Minister Nabati announced the details of the KGF package

Treasury and Finance Minister Nureddin Nebati explained the details of the Treasury Reinforced Bail System.

Treasury and Finance Minister Nureddin Nebati shared the details of the 250 billion lira loan package in return for 200 billion lira Treasury-backed bail, announced on 19 December 2022.

Stating that they classify the companies in five clusters according to their soundness, their past debt payment behaviors and their collateral requirements, Nebati said that they will extend 60 percent of the loans to the companies in the 3rd cluster, 30 percent to the 2nd cluster, and 10 percent to the companies in the 4th cluster.

Treasury and Finance Minister Nureddin Nebati is speaking at the press conference held at the Dolmabahçe Labor Office regarding the Credit Guarantee Fund supplements.

Here are the valuable headlines from Minister Nabati’s statement:

Before explaining the details of our packages, I would like to make a short economic evaluation. Our country, which showed an exemplary performance in the global epidemic, proved once again how strong its macroeconomic foundations are in the face of global shocks.

The basis of this situation is our Turkish Economy Model, which is based on 20 years of achievements and investment, employment, production and exports.

Thanks to our Turkish Economic Model, we achieved valuable improvements in all macroeconomic indicators except inflation. Inflation has also entered a downward trend for the last 2 months. With a rate of 64.27 percent, our OVP claim underwe closed.

After that, the downward trend will continue. We invited effort with inflation to our real department. Thanks to them, they also reinforce our invitation. We would like larger sections to be the basis for this invitation.

We are aware of the difficulties created by high inflation and we see the effort with inflation as our most valuable priority.

In order for our citizens to be minimally affected by the significant increase in global power prices, we provide a subsidy of 80 percent in natural gas and 60 percent in electricity at the first stage, which is rare in the world.

We do not allow exorbitant price increases by not allowing unconventional pricing in the nature of the economy by strengthening market control.

In 2022, we gave up tax revenue of 278.7 billion TL in order to protect our citizens from the negative effects of inflation.

We set the net minimum price, which we raised to 5 thousand 500 TL last July, to 8 thousand 506 TL for 2023, with an increase of 54.7%.

In addition, we have removed the income and stamp tax deduction from the base price and made this practice valid for all price income.

We aim to alleviate the burden of severance pay

With the EYT Supplementary Package, which has a guarantee limit of 25 billion TL, we aim to alleviate the severance pay burden of our bosses in the EYT process.

Details are coming…