Defense Industry Support Fund

Türkiye's ruling Justice and Development Party (AKP) has submitted a bill that aims to boost revenues for the country's Defense Industry Support Fund.

The revenue-generating measures included in the bill are expected to raise around 80 billion Turkish Liras each year.

A number of institutions announced measures to prop up the Turkish Lira in a bid to support the struggling currency on Dec. 7, following President Recep Tayyip Erdoğan's call to keep savings and make transactions in liras rather than foreign currencies. 

Altay, Turkey's first domestic tank in the making, has received much interest from the country's allies, said Undersecretariat for Defense Industries (SSM) head ?smail Demir said Jan. 7 during a presentation at parliament.