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Azine and Finance Minister Berat Albayrak presented the New Economy Program (YEP), prepared with the main theme of “New Balance, New Normal, New Economy”. YEP’s Tax Inspection Board, which will cover the years 2021-2023, was announced at a press conference held in Istanbul Ataşehir Service Building. The program is especially the Republic of Turkey, the year of the hundredth and the predetermined targets drew attention to the coverage in 2023. Minister Albayrak, drawing attention to the three main themes in the yEP, “we see each of the main themes as a separate challenge, “he said.
NEW STEPS IN STANDARDIZATION
Albayrak stated that, during the balance sheet period, the financial measures that were put into effect specific to the epidemic process will be phased out: “Since the beginning of August, our relevant institutions stand out as examples that we have started to take measures in this direction. with measures of interest and liquidity and regulations on exchange and proportion of assets The normalization steps will continue in the coming days and weeks, contributing to both our financial stability and our macroeconomic goals.
WE EXPECT THAT GROWTH WILL BE POSITIVE DURING THE YEAR
Albayrak said: “Of course, our technical teams have also prepared alternative scenarios. But we started 2020 with a strong growth performance, especially in the framework of growth. After the contraction that started in mid-March with the epidemic effect, we entered again in a rapid process of recovery in the third quarter. The normalization steps that have been taken since August. Although growth will lose some momentum in the fourth quarter, we expect growth to be positive and occur at a rate of 0.3 percent throughout the year.
WE EXPECT 5.8 PERCENT GROWTH IN 2021
Albayrak, Turkey’s economy due to the potential of the 2018-2020 period faced by internal and external shocks is growing well below attracted attention. In 2021, indicating the deferred consumption and the introduction of investments and estimated that tourism will be a growth of 5.8% together with the normalization of the income of Albayrak, “Next time, naturally observing the growth level of 5% , we anticipate the evolution of Turkey’s 5% growth path. Achieving these growth targets As we always emphasize in the program period, we will focus much more on exports, value-added production and employment, especially in this period “, He said.
FALL IN TOURIST INCOME AND CURRENT SURPLUS OF 17% EXCEPT THE IMPORT OF GOLD
According to his calculations, Albayrak said that the reducing effect of the COVID-19 epidemic on net tourism receipts was $ 25 billion and the upside effect on net gold imports was $ 12 billion, and made the following evaluations: “I do not see gold imports as an import. Gold is a capital good. It is not a consumer good, it is not bought and consumed. It is put as capital. Except for temporary effects, we calculate that we have a A current surplus of $ 12.4 billion, or 1.7 percent of our national income, in 2020. When we look at the normal performance of just gold and tourism, 2020 is normal. When we add gold, it would have been a year that we would close with a current account surplus with an increase of 0.1 if only tourism had been carried out with normal performance, so the ratio of the current account balance to GDP is% in 2021 and 2022, respectively. 1.9 and 0.7 percent deficit , at the end of the period of program We anticipate that these steps will take an excessive and permanent turn at the point of transformation, with the effect of strategic reforms ”.
The economy, which has recovered after the epidemic in NEP, is expected to complete the year with growth of 0.3% and then recover rapidly. On the show, the economy is expected to move into a current surplus in 2023.
THE DISCOVERY WILL MAKE A POSITIVE CONTRIBUTION TO THE IMPORT OF ENERGY
Albayrak affirmed that the prices of natural gas in the contracts to be renewed in 2021 will contribute positively to energy imports due to the discovery of natural gas, and that there will be renewal of almost 30 billion cubic meters of natural gas contracts in the next few years. Albayrak continued his words as follows: “We are coming to the end of those famous 25 to 30 year contracts of the 1990s. With the effect of this and with the effect of the natural gas exploration sources and the good news In the Black Sea, energy import prices were formed at much more appropriate levels in the next period. I hope this process is not the end of energy import, we are talking about an energy export from Turkey to which runs Turkey. This will contribute positively to the incredible total of Turkey’s current account balance.
EXIM AND YATIRIM BANCO OUT OF THE ‘BUSINESS WITH LETTER’ MODEL
Minister Albayrak, the new approach of the Turkish Eximbank, the Investment and Development Bank of Turkey to support SMEs with new areas of focus, their participation in the global supply chain and said it was to increase export email. The Turkish Business Development and Investment Bank and the Turkish Eximbank draw attention that much of the news of Albayrak’s new approach, “writing leads to getting the job done” … has already left this model, “he said.
WE WILL INCREASE DIVERSITY IN THE SECTOR WITH 12 MONTHS OF TRANSITION TO TOURISM
Albayrak affirmed that they will also give importance to investments in value-added production especially in the mining field, and said the following about studies in the field of tourism: “We will increase diversity in tourism with the transition to tourism for 12 months to increase our tourist income and make the certification of safe tourism permanent and permanent. we propose a change “.
Each topic is a challenge
NEW BALANCE
Macroeconomic balance
Financial stability
NEW NORMAL
● Dissemination of electronic services
● Generating new financial solutions
● Creating new work models
● Accelerate digital transformation
NEW ECONOMY
Sustainable growth
● Innovative and high added value production
● Growth based on production and export
Digital and platform economy
Albayrak: We should focus on production and industry rather than currency.
Yes, practical and realistic goals that host journalist Hakan Güldağ, YEP Minister of Finance and Treasury said after sitting down with his talk Berat Albayrak was as follows: “Minister Albayrak, Turkey’s exhibit, said it was okay. He claimed that instead of focusing on the lottery, they focused on industry and production. Albayrak, who affirmed that “control of the currency is achieved”, emphasized that things are going very well on the real sector front. With global change, this process will be established, including the most advantageous country stressed than Turkey ”.
HEALTH WILL BE LOCATED BY DMO THAT ALLOWS US TO MAKE A PURCHASE 40 PERCENT CHEAPER
Minister Albayrak said that with the expansion of the role of the State Supply Office (DMO) in central purchases, they have started to have tremendous positive results. By stating that purchases are between 30 and 40 percent cheaper, Albayrak said that the problem in the health sector will end today and tomorrow and the signatures will be signed. Albayrak said: “Collection, accounts receivable, income, expenses, will be one of the conversions of the DMO working together placing the sector. We do the same model of energy indigenization of the health domain DMO will be indigenization of the hand, both the collection and cheapness both R&D in Turkey In this regard, we will have a great history of transformation with transformation to. In addition, we will take steps to support our goals with steps such as expanding the single treasury account.
WE STARTED A PILOT APPLICATION WITH TÜRKŞEKER; POSITIVE RETURNS
Albayrak stressed that food prices will stabilize with contracted agriculture and the financing of inputs. Albayrak affirmed that they will implement the financing and input advance mechanism to reduce agricultural production costs, guarantee farmers’ income and contribute to food price stability, and that they have already started the pilot with TÜRKŞEKER and they have obtained very positive returns. Albayrak stated that they will expand this scope on many products until the end of the year and said: “I can already predict that this model will give very good results. In terms of price stability for our farmers and also,” he said.
THE PUBLIC WILL PLAY AN IMMERSIVE ROLE
Albayrak said: “We will see a period in which the public plays a leading role in investments in which the private sector can remain timid with the effect of the uncertainty induced by the epidemic,” Albayrak said. . In addition, we will implement policies that increase efficiency in tax collection, reduce informality in the economy, and increase the efficiency of the incentive system with permanent and permanent sources of income.
WE WILL EXPAND THE PARTICIPATION INSURANCE
Explaining that international standards in the field of participatory finance will be met and participatory insurance will be expanded, Albayrak said: “As we begin a process of transformation in the insurance sector, let me say very clearly, that participatory finance will also have a great process of change and transformation in the next 3 years. I will testify. Only participation banking in Turkey and the region, the participation of finance is not potential, it has been integrated in the global sense, the Istanbul Financial Center, the region and the point of being a major contributing financial center of the world are also very powerful steps that we take during this program. You will see in the near process, We will maintain this framework. A comprehensive strategy document and action plan will be prepared for the diffusion of financial technologies in our country Increase financial inclusion, promote financial products based on TL, reduce Cir the dollarization, rich grouping mode based on IFC The implementation of li will be our other steps. “
Full support to YEP from the business world
