Confederation of Turkish Tradesmen and Craftsmen (TESK) General Director Palandöken said that if the excise tax (ÖTV) cut continues until the end of the year, 650,000 couples will marry in the wedding season and that it will contribute TL 13 billion ($3.4 billion) to the economy, boosting many sectors.

TESK General Director Bendevi Palandöken said that markets would move due to the start of the wedding season. Suggesting that the most inexpensive weddings cost about TL 20,000, Palandöken said that if the excise tax cut continues until the end of the year, 650,000 couples are expected to marry in the 2017 wedding season, contributing TL 13 billion to the economy. Wedding expenses boost many sectors such as furniture, white goods, jewelry, printing, wedding salons and hairdressers, textiles, pastry, floriculture and real estate, Palandöken pointed out in a written statement, adding that tax cuts in the furniture, white goods and home appliances sectors should continue.

Pointing out that markets will be moved by the wedding season, Palandöken stated that the most inexpensive weddings cost about TL 20,000 and that if the excise tax cut continues until the end of the year, 650,000 couples are expected to get married in 2017 wedding season, a TL 13 billion contribution to the economy.

Underlining that it is necessary to help couples suffering from financial difficulties and expenses prior to their wedding, Palandöken said that government-backed marriage loans granted to young couples, starting their family life, to help them overcome difficulties due to financial expenditures should be long-term with zero-interest or very low interest rates. "Interest rates should be kept low so that couples do not have difficulties paying loans when they start family life," Palandöken added.