Economics
Turkey Will Keep Pumping Money Into Infrastructure, Premier Says
- Turkey Wealth Fund could refinance loans, free banks: Yildirim
- Infrastructure projects to include $28 billion on railways
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Turkey will boost economic growth by finding creative ways to reduce financing costs and redirect resources to large infrastructure projects, Prime Minister Binali Yildirim said in an interview in Ankara on Monday.
The interview was Yildirim’s first since an April 16 referendum, which was preceded by massive government-backed stimulus for lending after the nation’s slowest growth rate since a contraction in 2009. The referendum, backed by Yildirim, hands President Recep Tayyip Erdogan enhanced executive authority and by 2019, will lead to the abolishing of Yildirim’s current job.