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Turkey Unveils $15.4 Billion Plan to Counter Virus Outbreak

  • Stimulus adds to central bank action to lower borrowing costs
  • Infections on rise in Turkey in threat to tourism, industry
A Metropolitan Municipality worker sprays disinfectant on a bus in Istanbul, Turkey, on March 14. 

A Metropolitan Municipality worker sprays disinfectant on a bus in Istanbul, Turkey, on March 14. 

Photographer: Kerem Uzel/Bloomberg
Updated on

Turkish President Recep Tayyip Erdogan unveiled a 100 billion-lira ($15.4 billion) plan to help businesses ride out the economic storm caused by the coronavirus pandemic.

The government will introduce a set of new measures from tax cuts and payment deferrals for businesses to an increase in minimum pension payouts, Erdogan said Wednesday after meeting with senior officials and business leaders.