On Jan. 1 Turkey ended its two-year-old foreign exchange (FX)—protected deposit program in what is seen as another step towards a return to orthodoxy. Treasury and Finance Minister, Mehmet Simsek also signaled the start of what he called a “permanent improvement in the current account.”
Turkey’s Policy U-Turn
Turkey’s Treasury and Finance Minister, Mehmet Simsek, recently disclosed that the country will end its foreign exchange (FX)-protected deposit program, also known as KKM, in 2024. This move is the latest in a series of policy u-turns that Turkey has made in the last couple of months.
Programımızın olumlu sonuçlarını yeni yılda da almaya devam edeceğiz.
2024 yılı;•Yıllık enflasyonda düşüşün başladığı, •Rezerv yeterliliğinin daha da arttığı, •Kur korumalı sistemin sonlandığı, •Cari açıkta kalıcı iyileşmenin başladığı, •Bütçe disiplininin tesis…
— Mehmet Simsek (@memetsimsek) December 31, 2023
Following his re-electio
We współpracy z: https://news.bitcoin.com/report-turkey-exits-from-foreign-exchange-protected-deposit-program/
