Bloomberg/Kostas Tsironis

Economy

Turkey eases payment instalment rules to spur domestic spending

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The measures aim to boost domestic spending, a key driver of Turkey’s economy, at a time when consumption is weak and inflation is almost four times the central bank target of five per cent.

Sunday 23, June 2019

(Bloomberg) –The Turkish government has eased rules on payment instalments for various goods, which is expected to increase domestic spending to support the economy.

According to the decree, the government raised the number of maximum instalments for electronic goods including cameras and tablets as well as TVs and mobile phones costing at least TRL 3,500 ($600) to six.

Similarly, Turkey increased the ceiling figure for home appliances and furniture to 18 and will now allow instalments for non-bullion jewellery items.

TAGS : Lira, Economic growth

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