Turkey to increase borrowing limit

Turkey to increase borrowing limit
Date: 16.3.2020 12:00

Borrowing limit will be increased by the law on the bag coming to Parliament this week.

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General Assembly of the Grand National Assembly of Turkey, this week will continue discussions of the bag legislative proposals in the field of economics. According to the law, the authority of the Treasury and Finance Minister to transfer cash resources to credit guarantee institutions or to issue private internal government debt securities will increase from 25 billion lira to 35 billion lira.
 
Assembly, which includes the regulations will contribute to Turkey's economic growth and financial markets will continue its efforts on the legislative proposals. 11 articles of the Law Proposal on Amending Some Laws, the negotiations of which started last week, were accepted. The General Assembly will meet on Tuesday, March 17 and continue the negotiations of the proposal. According to the proposal signed by the AKP deputies, those who continue to work from the disabled and war-disabled people who are on a monthly basis can also receive an old-age pension, provided that they have at least 20 years of insurance period and 5 thousand days of premium.
 

DELAY TO BILLS UP TO 1 YEAR IN DISASTER AREAS

 
In disaster areas, electricity and natural gas consumption costs can be delayed up to 1 year. Shotguns, sports and aiming rifles, guns will not be advertised or promoted. The authorization of the Treasury and Finance Minister to transfer cash resources to credit guarantee institutions or to issue private government bonds will increase from 25 billion lira to 35 billion lira. This year, employers will be provided with a minimum wage support of 2.50 pounds per day and 75 pounds per month, offsetting the insurance premium they will pay, regardless of the sector. Illegal betting and games of chance will be included in catalog crimes. In the General Assembly, the negotiations of the Bazaar and Neighborhood Keepers Law Proposal are expected to start in the event that negotiations for the bag law proposal in the field of economy are completed.
 
The Treasury and Finance Ministry went to borrow 2 billion 885.1 million liras in the bond auction on Monday. While the ministry re-issued government bonds indexed to CPI with a 5-year (1785 days) term, 1.18 percent real coupon payment every 6 months, the ministry held 2 more bond auctions on Tuesday.

YEREL HABERLER

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