With the Economic Stability Shield package, a total of 100 billion lira resource set will be launched to reduce the effects of the KOVID-19 outbreak.
President Recep Tayyip Erdoğan announced the decisions taken in a press release after the Coronavirus Combat Guidance Meeting he chaired in Çankaya.
Press taken by Turkey towards coronavirus outbreak in a statement early and important measures to mention that President Erdogan, in this process in order to reduce the impact of the epidemic will be applied on the economy 100 billion pounds welding set of consisting of 21 items, which commissioned the "Economic Stability Shield" has announced a package of measures.
The measures implemented within the scope of the measure package are:
1- Concise and VAT withholding and SSI premiums for Retail, Shopping Mall, Iron-Steel, Automotive, Logistics-Transportation, Cinema-Theater, Accommodation, Food-Beverage, Textile-Garment and Event-Organization sectors 6 ' The month was delayed.
2- The accommodation tax will not be applied until November.
3- The easement rights and revenue share payments related to hotel rentals were postponed for 6 months for April, May and June.
4- In domestic air transportation, the VAT rate has been reduced from 18 percent to 1 percent for 3 months.
5- As the Kovid-19 outbreak is affected by the measures related to the epidemic, credit capital payments and interest payments to banks will be postponed for a minimum of 3 months and additional financial support will be provided if necessary.
6- In order to maintain capacity utilization rates during the temporary slowdown in exports, inventory financing support will be provided to the exporter.
7- In this period, the credit debts of Halkbank to the tradesmen and artisans who demanded by declaring that their works were negatively affected, April, May and June principal and interest payments will be postponed for 3 months and without interest.
8- The Credit Guarantee Fund limit will be increased from 25 billion liras to 50 billion liras, as the priority in loans is negatively affected by developments, it will be given to SMEs and companies that have liquidity needs and collateral deficits.
9- It will be encouraged to put in place credit packages for social purposes under favorable and advantageous conditions for citizens.
10-In residences below 10- 500 thousand liras, the credible amount will be increased from 80 percent to 90 percent, the minimum down payment will be reduced to 10 percent.
11- With the effect of the measures taken against the spreading of the virus, the firms that have defaulted in April, May and June will be provided with a “force majeure” grade in the credit registry.
12- Concluding declarations, including the payments of the deductions made at the source such as withholding, will be delayed for 3 months.
13- Minimum wage support will continue.
14- Flexible and remote working models in the legislation will be made more effective.
15- Short Work Allowance will be put in place, the processes required to benefit from this will be facilitated and accelerated. Thus, while providing temporary income support to the workers in the workplaces that suspend their activities, the cost of employers will be reduced.
16- The lowest pension will be increased to 1,500 liras.
17- Retirement bonus of retirees will be paid at the beginning of April. Again, retirement salary promotion payments will be made directly to their accounts, without the need to go to branches.
18- An additional 2 billion lira resource will be allocated for financial aid to families in need according to the criteria set by the Ministry of Family, Labor and Social Policies.
19- In order to ensure continuity in employment, the 2-month compensatory working period will be increased to 4 months.
20- Alternative channels will be developed according to the priorities determined in both production and retail in case of a failure in the global supply chains.
21- Periodic follow-up program consisting of social services and home health services will be launched for the elderly over 80 years old living alone.