Government to provide new financial support to exporters
ANKARA
The Treasury and Finance Ministry will launch a new support package in the amount of 50 billion Turkish Liras ($1.37 billion) focused on exporters.
The Treasury-backed guarantee system to increase exporting companies’ access to financing under favorable conditions is being used effectively, said Finance Minister Mehmet Şimşek.
"We stand by our businesses which produce, export and create employment. We are launching the new package within 15 days. In line with the demands from the sector, we will continue to support our businesses and facilitate their operations,” he added.
Şimşek also stated that they are working on legislative changes to cover the costs incurred by companies stemming from foreign exchange transactions, ease the functioning of commercial life, and reduce inflationary effects in the economy and that they are in the final stage of these efforts.
Under the economic program, the government has been taking steps to support the country’s exporters.
The daily rediscount credit limit was increased from 300 million liras to 4 billion liras. The capital of Türk Eximbank was raised from 13.8 billion liras to 55.3 billion liras. Last year, the bank provided $49 billion in support to exporters. The tax exemption on service export revenues was increased from 50 percent to 80 percent.
Türkiye’s exports reached a record $262 billion last year, marking a 2.4 percent increase from 2023.
In the medium-term program, the government projects that exports will climb to $279.6 billion in 2025 and further increase to $390.6 billion next year. The government’s export revenue forecast for 2027 is $319.6 billion.
