CBRT increased rediscount credit limit

The Central Bank of the Republic of Turkey (CBRT) has increased the daily limit of banks for rediscount credits by 5 times.

According to the information obtained from CBRT officials, the Central Bank made an important decision regarding rediscount credits that encourage exports.

Accordingly, the daily limit of rediscount credits providing financial support for export was increased from TL 300 million to TL 1.5 billion.

INCREASE IN THE SHARE OF SMEs

With this decision, the Central Bank will continue to support access to credit for exporters, while prioritizing exporters that contribute to export growth.

The participation of SMEs in rediscount credits is also increasing.

In addition, as part of the CBRT streamlining process, conditions such as an additional 30 percent foreign currency sales requirement and the advance foreign currency sales requirement are removed on rediscount credits.

The Central Bank supports the economy of efficiency directing financial resources to productive areas.

ŞİMŞEK DISCOUNT EXPLANATION

On the other hand, Treasury and Finance Minister Mehmet Şimşek, who made a statement after the increase in the rediscount credit limit, said:

“One of the highest priorities of our program is strong support for exports.

As we take steps to balance domestic demand, we will provide maximum support for exports. We will channel the resources we obtained from abroad towards exports and investments”. (AA)