Turkey to make credit guarantee system permanent

Turkey’s government will give permanence to a scheme providing state guarantees to small and medium-sized enterprises, Economy Minister Nihat Zeybekci said.

The administration in Ankara will also widen the scheme to include the smallest businesses, Zeybekci said, according to the Business HT website.

Last year, Turkey approved more than 200 billion liras ($52 billion) in the guarantees to help banks lend more and stimulate economic growth following a failed military coup in July 2016.

In order to help exporters, the government plans to reduce the value added tax burden, the minister said.