Turkey's Economic Policy Council to work on export, economic security recommendations

Published 12.07.2018 00:00
Updated 12.07.2018 00:10

The duties and authorities of the Economic Policy Council, which was established within the new presidential governance system, were determined with 13 articles according to the first presidential decree published in the Official Gazette. The council will develop policy recommendations for export-oriented production strategies to more quickly develop the interest-free finance system and contribute to the vision of Turkey's international financial center.

The duties and authorities of the council as determined by the decree will be to monitor and evaluate developments related to economic stability, conduct research on economic issues, monitor developments related to global and national economy and development issues, carry out research when necessary, formulate policy recommendations to identify and update procedures and principles for economic security and economic defense, monitor and evaluate revenue enhancing or expenditure reducing proposals and conduct impact analyses on those deemed appropriate if necessary.

Among other things, the council will operate in the field of regional development to determine general policies and priorities at the national level, make suggestions, develop proposals to accelerate investment processes made by the public and private sector, develop policy recommendations for export-oriented production strategies, contribute to the formation of strategies and action plans to facilitate trade and develop policy recommendations to contribute to the country's vision of the international financial center along with faster development of the interest-free finance system.

In addition, it will identify and monitor systemic risks that may spread throughout the financial system and determine measures and policy recommendations needed to reduce such risks, express opinions on the creation and implementation of customs and internal trade policies and conduct research and studies on these issues, while also developing policy recommendations to determine procedures and principles for government grants.

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