August 17, 2018 / 11:14 AM / in 8 months

Turkey's industry ministry announces measures for industrials

ANKARA, Aug 17 (Reuters) - Turkey announced on Friday announced a new 16-artile support and measures plan in order to relieve the burden of an ongoing currency crisis on industrials, its Industry and Technology Ministry said.

In a statement, the ministry said it would postpone the loans of small-to-medium size enterprises until 2019 as part of the plan, adding that it planned to localise 2,739 products that Turkey currently imported.

No additional burden will be brought on the budget with this package, Industry and Technology Minister Mustafa Varank said, adding that the package would not lead to monetary easing and was in line with tight fiscal policies. (Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by Ece Toksabay)

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