Şimşek: We are determined to support investment, production, and exports

Şimşek stated, "Turkey's risk premium, which was over 700 in May, has now fallen to the 330s level."

Minister Şimşek made a post on his social media account. Emphasizing that they are determined to lower inflation, Şimşek noted that price stability is a prerequisite for sustainable high growth.

Pointing out that investor confidence is increasing, reserves are strengthening, and the country's risk premium is falling due to the policies being implemented, Şimşek drew attention to the fact that, according to the data released today, the CBRT's gross reserves have reached 134.5 billion dollars, the highest level since September 2014.

WE ARE DETERMINED TO SUPPORT INVESTMENT, PRODUCTION, AND EXPORTS

Underlining that Turkey's risk premium, which was over 700 in May, has fallen to the 330s level today, Şimşek made the following assessments:

"We are also determined to support investment, production, and exports during the disinflation process. In this context, while strengthening Eximbank's capital, we increased the daily rediscount credit limit 10-fold to 3 billion liras to support exporters' access to finance. We set an upper limit on rediscount credit interest rates for exports and foreign exchange-earning services, keeping the discount rate fixed at a maximum of 25.9 percent. With the new YTAK (Investment Committed Advance Credit) program, the CBRT has allocated a total limit of 300 billion liras over 3 years, with 100 billion liras annually, to support qualified investments."

News Source: 12punto