Nureddin Nebati

Despite the unfavorable developments globally, there are no risks to food supply security in Türkiye thanks to measures in place, said the Food and Agricultural Products Monitoring and Assessment Committee in a statement on Sept. 14.

FX-protected deposit accounts that were launched some nine months ago have attracted more than 1.3 trillion Turkish Liras of savings, Treasury and Finance Minister Nureddin Nebati has said.

Having more lira assets and deposit accounts with longer maturity are crucial both to investments and loans, Nebati said.

The government is working on new measures that are designed to support low-income groups, Treasury and Finance Minister Nureddin Nebati has said.

"We have already taken steps to help civil servants, workers and low-income groups. New measures are on the way," Nebati told at a meeting with members of the ruling Justice and Development Party (AKP) in the province of Isparta.

The government plans to launch a package to support the country's small and medium-sized enterprises (SME), Treasury and Finance Minister Nureddin Nebati has said.

"We are working on a Treasury-backed package to support SMEs in need of collateral in line with the Türkiye Economy Model, which prioritize production, exports and employment," Nebati wrote on Twitter.

Consumer prices in Türkiye increased by 1.46 percent in August from the previous month, easing from the monthly increases of 2.37 percent in July and 4.95 percent in June, data from the Turkish Statistical Institute (TÜİK) have shown.

Consequently, the annual inflation rate advanced from 79.6 percent in July to 80.2 percent last month.

Türkiye's economic model helps limit the effects of the volatility in exchange rate, Treasury and Finance Minister Nureddin Nebati has said.

The Türkiye Economic Model supports exports by adopting the value-added production approach, he added.

"With this mode, the impacts of exchange rate volatility, which is occasionally experienced, is limited," Nebati wrote on Twitter.

The Economy Coordination Board, chaired by Vice President Fuat Oktay, convened on Aug. 30 to discuss the specifics of the medium-term program, covering 2023-2025.

Members of the board discussed the macroeconomic framework and the budget, said a statement released after the meeting.

The GDP growth accelerated from 7.3 percent in the first quarter of 2022 to 7.6 percent in the April-June period, data from the Turkish Statistical Institute (TÜİK) have showed.

On a seasonally and calendar adjusted basis, the economy grew 2.1 percent in the second quarter from January-March, up from the quarterly growth of 0.7 percent recorded in the previous quarter.

The economic confidence index increased by 1 percent in August from July to 94.3, the Turkish Statistical Institute (TÜİK) has said. 

Any figure above the 100-mark indicates an optimistic outlook regarding the general economic situation.

The headline confidence index was down 0.2 percent month-on-month in July. 

Türkiye will release some key data this week, including GDP growth, foreign trade and the economic confidence index.

The Turkish Statistical Institute (TÜİK) will announce the growth figures for the second quarter on Aug. 31. The Turkish economy expanded 7.3 percent in January-March this year.