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The roadmap of ministries and institutions related to the schedule of the Economic Reform Action Plan, which was announced by AKP President Recep Tayyip Erdoğan on March 12, aims to expand the economy on the basis of investment, production, employment and exports.
Minister Elvan, in his post on his Twitter account, said: “We have completed the calendar of our economic reforms. You can access it from the website of our Ministry. Good luck.”
The action plan consisted of 10 main actions under 10 titles: Public Finance, Price Stability, Financial Sector, Current Account Deficit, Employment, Corporate Governance, Investment Promotion, Domestic Trade Facilitation, Competition, Market Surveillance and Inspection.
In accordance with said schedule, all the actions of the Economic Reform Package will be completed in March 2023. The highlights of the Economic Reform Action Plan are as follows:
-The “Public Finance Report”, which includes the results of the implementation of the budget, the developments of the public fiscal policy and the goals, will be shared with the public on a quarterly basis.
– A Price Stability Committee will be established to monitor inflation dynamics in order to ensure price stability, evaluate shocks that pose risks to the disinflation process, determine and manage the necessary measures.
– Operational restructuring and rehabilitation functions of firms will be established in the banking sector for loans under close supervision. With the guarantee of the Credit Guarantee Fund (KGF), long-term credit support will be provided to investments that are based on manufacturing in the 5th and 6th regions and prioritize import substitution and export.
– When reviewing the effectiveness of employment incentives, the practices that cause duplication of existing incentives and inefficient incentives that exclude each other will be determined, and the incentive system will be simplified.
The duties and responsibilities of the Development and Financial Stability Committee were reviewed; It will be structured as a Financial Stability Committee (FİK).
– A new private sector investment protection system will be implemented in order to increase the predictability of investments, reduce bureaucracy and produce quick solutions to problems encountered during the investment process.
– Regulations will be developed to eliminate unfair business practices in retail and to create a fairer and better-functioning supply chain, in line with European Union (EU) legislation.
– A competitive and fair environment will be created in digital markets and robust platforms will be prevented from abusing these powers.
-An independent Market Surveillance and Inspection Agency will be created in order to consolidate the structure that operates through the different administrations, ensure uniformity of implementation and avoid duplications.
