Economy Ministry

The Economy Ministry is setting up an infrastructure fund with the contribution of European authorities that will finance projects amounting to 1 billion euros in the form of public-private partnerships (PPPs).

In his first move for the new administrative structure in Turkey following the April 16 referendum to consolidate all executive power in presidential hands and allowing the president to lead a political party, President Tayyip Erdoğan made his move and changed some top positions in the ruling Justice and Development Party (AK Parti) on May 29.

Turkey attracted $2.8 billion net foreign direct investment (FDI) in the first quarter of the year with a 1.9 percent year-on-year increase, data from the Economy Ministry showed on May 23. 

A total of $1.6 billion FDI entered into the country in March, according to the ministry data. 

Turkey received $457 million in foreign direct investment in February, the Economy Ministry stated in a report on April 24.        

Foreign investment in Turkey reached $1.059 billion in the first two months of this year, down by 34.3 percent compared with the same period last year.        

An Economy Ministry bill presented on Monday would see the restoration of a 120-installment debt payment scheme two years after a previous one from 2015. It would also offer the option of a partial write-off of a debt to the state not only to enterprises that enter the extrajudicial mechanism but also freelancers who were supposed to be excluded from this process.

Ivica Todoric, the biggest owner of the Croatian economic giant Agrokor, which is going through a tough financial crisis, on Friday signed off the process of "extraordinary management", effectively putting the behemoth under control of the state.

Croatia's parliament adopted the "Law on Procedures for Extraordinary Management in Companies of Systematic Significance" on Thursday.

Croatia's parliament on Thursday was set to pass a new "special law", which is generally believed to have been designed to help the troubled private company Agrokor.

However, some opposition MPs insist the law will not help the company in the long term, or its smaller suppliers and employees, or the economy in general.

The government is preparing to discuss a proposed Law on Procedures for Extraordinary Management, which many see as way for the state to step in and help the troubled private giant Agrokor deal with its serious financial crisis.

All debts to banks and the state will be able to enter the extrajudicial settlement mechanism the Economy Ministry has prepared for voting by Parliament, with the exception of the social security contributions that workers owe.

Croatia's Economy Ministry approved the export of 101 million euros' worth of arms and ammunition to Saudi Arabia in 2015, according to an EU report which has yet to be formally published.

This included 87 million euros' worth of ammunition, five million euros of weapons, six million euros of protective military clothing and three million euros of weapons parts.