Deputy PM vows Turkish gov’t will ‘reduce public sector’s share in economy’

“Unfortunately it is not possible to say that the public sector has tended to make savings. The budget has been fueling spending, not saving. We have therefore decided that the sector needs reform. We will shrink the share of the public sector in the economy,” Canikli said in a speech following a cabinet meeting in Ankara on Sept. 19. 

He also noted that a new regulation easing credit card payments may enter into force by next week.

“We have finalized our works in this field and sent the related draft to the respective institutions … The new regulation may go online by next week,” added Canikli.

Installment payments for mobile equipment and similar purchases by credit card were limited in Turkey in 2013 in a bid to increase private savings and cut the current account deficit. 

Canikli said in another speech in early September that the government was working on a series of steps that will revive economic activities without creating pressure on the current account deficit. 

He noted that one of the aims was to encourage Turkish people to buy locally made products.