Turkey announces 15.4-bln-USD economic package to cope with COVID-19

Turkish President Recep Tayyip Erdogan on Wednesday announced an economic package of 100 billion Turkish liras (15.4 billion U.S. dollars) as part of the measures to cope with the COVID-19 outbreak.

The package will be allocated to the private sector, pensioners, elderly people and citizens with low income, he said at a press conference.

“With a package, called the Economic Stability Shield, we are deploying a total set of 100 billion liras to reduce the effects of the COVID-19 outbreak,” Erdogan noted.

Turkey will provide stock finance support to exporters during the temporary slowdown because of the virus, he said.

Flexible and remote working models will be encouraged to stem the coronavirus spread, the president added.

Erdogan did not declare a lockdown but urged people to stay at home for three weeks.