KGF for SMEs will be announced in mid-December

Mahmut Gürcan, Deputy Minister of Treasury and Finance, said that in mid-December they will announce the new KGF package for use by SMEs.

Gürcan, who met businessmen in Kadıköy on the sidelines of planned meetings in 39 Istanbul districts by his party’s Economic Affairs Unit, claimed that 11.5 million people are employed by SMEs as of 2020, saying: “ We offer serious support to SMEs. In mid-December we will announce a new KGF package for use by SMEs”.

Treasury and Finance Minister Nurettin Nebati also stated that the work on the KGF package continues in recent days, saying: “We will apply a different method for the first time in Turkey. We take care of the bills. Banks look at the balance sheet when they make loans. They examine the company’s ability to recycle credit. They rate it as A, B, C. We will give 75 percent of this KGF to C. We will provide comfort to those who really need it and have difficulty getting a loan from the bank, and those who have a disability in their balance, and we will increase a little our risk. Those who do not need foreign currency and gold will be prevented from going.”

“Let’s hope we see the falls in inflation together”

Continuing his speech, Gürcan also stated that the inflation trend in Turkey showed an increasing trend in 2022, saying, “I hope we will see declines in inflation from the beginning of next year.”

Emphasizing that the government will give up 277.8 billion lira in 2022 in the framework of the fight against inflation, Gürcan stated that approximately 2.5 million people benefit from the Currency Protected Deposit, which not only a part of the society, but all segments of society benefit from it, and that it has been extended until the end of 2023 with the Stock Exchange Law enacted yesterday, he added. (AA)