Turkiye's Erdogan: Govt measures will protect people from high costs

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Turkiye's Erdogan: Govt measures will protect people from high costs
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Turkiye's President Erdogan announces new government measures aimed at protecting the Turkish people from high cost of living amid volatile foreign exchange rates

Erdogan said no Turkish citizen will have to move their savings from the Turkish lira to foreign currency

No Turkish citizen will have to move their savings from the Turkish lira to foreign currency, declared Erdogan after chairing a Cabinet meeting in the capital Ankara on Monday. "For exporting companies that find it difficult to present prices due to fluctuations in foreign exchange rates, they will be given a future exchange rate through the Central Bank," he explained.The state subsidy rate on the personal pension system will be raised significantly from 5 percent to 30 percent in order to boost its appeal, he said.

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