Nabati met with the Minister of Commerce of Saudi Arabia

Treasury and Finance Minister Nureddin Nabati met with Saudi Arabian Trade Minister Majid Bin Abdullah Al Qasabi and his delegation in Istanbul.

Sharing about the meeting on his social media account, Nabati said, “Today we had a very productive meeting with the Minister of Commerce of Saudi Arabia, Mr. Majid Bin Abdullah Al Qasabi. During our meeting, we evaluated our economic, commercial and financial cooperation between our countries.

Nebati also said: “We agreed with the Minister to further our cooperation in these areas.”

EXPECTED TO LOAN 5 BILLION DOLLARS TO TURKEY

According to Reuters in recent days, the Saudi Arabian Finance Ministry Spokesman announced that negotiations to open a $5 billion deposit account at the Central Bank of the Republic of Turkey (CBRT) are in the final stage.

The government sought money from abroad to bolster the economy, which was struggling with a high current account deficit and low reserves, ahead of the election.

If the Saudis send the $5 billion in question, this figure will be added to the CBRT’s gross reserves and recorded as external debt.