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FinancialNews


  • 14-05-20

    Coronavirus relief package in Turkey reaches USD35 billion

    (MENAFN)



    The treasury and finance minister of Turkey said on Wednesday that the Economic Stability Shield package of the country has is issued in order to cushion the economy during the coronavirus outbreak has reached a total of USD35 billion for now.

    Berat Albayrak, the minister, said during a meeting that was carried out by the Foreign Economic Relations Board (DEIK) that the relief package that has been issued on the 18th of March is equal to 5 percent of the gross domestic product (GDP) in Turkey.

    The official was quoted saying that "If we need to express its economic size with multiplier effect, this figure reaches 525 billion liras ($75 billion), which is equivalent to approximately 11% of GDP".

    He added that the Turkish government has given cash aid for about 5 million families having low income across the nation.

    MENAFN1405202000450000ID1100161683

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