The Central Bank of Türkiye five-folded the daily limits of rediscount loans to support exporters.
According to information obtained from the bank officials, the daily limit of rediscount credits, which provide finance for exports, was increased from 300 million liras ($11.2 million) to 1.5 billion liras ($56 million).
The bank also hiked the share of small and medium enterprises (SMEs) in rediscount credits.
Commenting on the move, Treasury and Finance Minister Mehmet Şimşek stated that the economic program of the government prioritizes strong support of exports.
Türkiye will provide maximum aid to exports
“While taking measures to stabilize domestic demand, we will provide maximum aid to exports,” Simsek wrote on Twitter.
Türkiye will channel the resources provided from abroad to export and investment, he added.