Turkey Sees No Need to Expand Credit Scheme That Spurred Growth
- Presidential adviser Cemil Ertem speaks to Bloomberg in Ankara
- Policy makers have no plans to expand credit guarantee fund
A pedestrian walks past retail stores in the Grand Bazaar in Istanbul.
Photographer: Kostas Tsironis/BloombergThis article is for subscribers only.
Turkey doesn’t intend to expand a credit guarantee scheme that helped lift lending to private companies from the slump that followed last year’s failed coup, and spurred growth.
Policy makers aren’t planning to raise the 250 billion liras ($71 billion) allotment for the Credit Guarantee Fund, through which companies access borrowing with the Treasury acting a guarantor, Cemil Ertem, a senior adviser to the president, said in an interview late Wednesday.