Economy

Turkey: President Erdogan announces new social support measures

Government to support debt-stricken individuals with loans, to provide incentives for local businesses

08.01.2019
Turkey: President Erdogan announces new social support measures

By Ahmet Salih Alacaci

ANKARA

Turkey’s president announced fresh social assistance programs for the low-income and tradespeople on Tuesday.

Speaking at Turkey’s parliament, Recep Tayyip Erdogan said the state would begin to provide an average 80 liras ($14.50) each for 2.5 million regular recipients of government assistance in electricity bill support.

He also announced that Turkey’s largest state-owned lender Ziraat Bank will provide loans for debt-stricken individuals to pay for their credit card obligations.

The president also said the state will support workplaces employing at least 500 workers with insurance premium payments.

In addition, he declared that another state-owned bank, Halkbank, would provide 22 billion Turkish liras ($4 billion) in incentives to 350,000 local businesses.

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