Turkish Nebati will unveil its economic program on Saturday -media


Turkish Finance Minister Nureddin Nebati speaks during a meeting at parliament in Ankara, Turkey, December 16, 2021. REUTERS/Stringer

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ISTANBUL, Feb 10 (Reuters) – Turkish Finance Minister Nureddin Nebati will announce measures on Saturday to counter rising prices and bring gold “under the mattress” into the financial system as part of a package involving support from the Credit Guarantee Fund (KGF) and public media. noted.

The Anadolu news agency said senior business executives, bank chiefs and representatives of business groups were expected to attend the event, which comes after Nebati this week presented the unorthodox politics of the Turkey to investors in London. Read more

At these meetings, the minister pledged to keep the lira stable, reduce inflation to single digits and stem dollarization.

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The lira has remained stable this year after falling 44% in 2021 when the central bank cut its key rate in line with an unorthodox policy led by President Tayyip Erdogan despite soaring inflation.

In London, Nebati said Ankara was set to unveil a new scheme to incentivize households to convert their gold holdings into lira, which he estimated at $250-350 billion.

Anadolu said the package would include export and production incentives, along with a selective financing package through the KGF, which is designed to stimulate the economy by guaranteeing loans to small and medium enterprises.

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Reporting by Daren Butler; Editing by Jonathan Spicer

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