Turkey spends 28.7 bln USD to protect economy against COVID-19

The Turkish government has taken steps worth 200 billion Turkish liras (28.7 billion U.S. dollars) to protect the economy from COVID-19 impacts since its outbreak, Treasury and Finance Minister Berat Albayrak said on Saturday.

The government’s stimulus package included tax postponement, short-time working allowance, minimum wage support, and other measures to preserve the commercial life, Albayrak said on his Twitter account.

He noted that the actions provided a shield for individuals, businessmen, and companies, and guarded Turkey’s production and employment against the adverse consequences of the pandemic.

“Nearly 4.4 million families were granted cash support of 1,000 liras each,” Albayrak said, adding that the government will also donate 1,000 liras each to those who are not covered by the support package but lost their incomes and jobs during the crisis.

Turkish President Recep Tayyip Erdogan initially announced a 100-billion-lira stimulus package to support the economy in the face of the coronavirus pandemic.

The death toll of the virus in Turkey climbed to 2,600, and the confirmed cases totaled 104,912 as of Friday, according to the latest figures of the Health Ministry.