Macro Analysis /

Turkey: Ruling AKP submits omnibus economic bill to parliament

    5 January 2022
    • Promised additional hikes in civil servants pays, low retirement pensions included in bill
    • Corporate tax rate to be 19% for exporting industrialists, compared to original 20% and provisional 23% for 2022
    • FX-linked lira deposit scheme set to expire at end-2022, president to have right of one-year extension
    • State subsidy over PPS contributions to be raised by 5pps to 30%
    • Bill enables price revisions in existing TRY-based public procurement/construction contracts