Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

'Turkey's economic model to show positive results before summer'

by Anadolu Agency

ANKARA Dec 24, 2021 - 12:22 am GMT+3
Treasury and Finance Minister Nureddin Nebati is seen during a session at the Turkish Parliament in Ankara on Dec. 24, 2021 (AA Photo)
Treasury and Finance Minister Nureddin Nebati is seen during a session at the Turkish Parliament in Ankara on Dec. 24, 2021 (AA Photo)
by Anadolu Agency Dec 24, 2021 12:22 am

Turkey's economic model will show positive results and rapid transformation before next summer, Treasury and Finance Minister Nureddin Nebati said Thursday.

"The model is based on high level of exports, lowering the current account deficit and welfare reflected for society as whole," he told NTV channel.

"This is a special model that will attract direct investment," he added, noting that Turkey received $12.7 billion in direct investment in the first 11 months of 2021.

The Treasury and Finance Ministry announced a new measure Tuesday in which Turkey will compensate lira depositors for foreign currency fluctuations while encouraging citizens to move to Turkish lira-based assets.

Under the facility, if the yield remains below the exchange rate difference between the account opening and its maturity dates despite the earned interest, the agency will compensate the depositor.

The new FX-protected Turkish lira deposits tool will be available for individuals who have a lira deposit account with a maturity of three, six, nine or 12 months.

Nebati said the new FX-protected Turkish lira deposits stood around TL 10 billion ($880 million) as of Thursday morning, and that amount continued to increase.

"There were speculations and manipulations in foreign exchange rates until Monday night. (The Turkish lira) will reach its optimal level," he said.

Since President Recep Tayyip Erdogan announced new financial alternatives for citizens' savings late Monday night, the Turkish lira recovered strongly in the past three days.

The dollar against the Turkish lira plummeted from 18.36 on Monday to as low as 10.23 on Thursday – a 44.3% decline, according to official data.

  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    turkey economy nureddin nebati
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Percival Lugue, who has the Guinness world record for the largest fast-food toy collection, poses with his toy collection in his home in Apalit, Pampanga province, Philippines, April 20, 2021. (REUTERS Photo)

    Filipino man collects record 200,000 toys from fast-food chains

    TOY-MANIA
    Parts of the newly completed last section of the Northern Marmara Motorway, Istanbul, Turkey, May 19, 2021. (DHA Photo)

    Turkey raises speed limits on highways starting from July

    SPEED-LIMIT

    Türkiye's 1st domestic heavy-class attack helicopter starts engine

    heavy-class-attack-helicopter

    Istanbul's consulate chronicles: Sudhi Choudhary, Consul General of India

    SUDHI-CHOUDHARY
    No Image
    Oh, Christmas tree: German breaks record with 444 trees at home
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021