Minister Şimşek Unveils Efforts to Support Exports
Minister of Treasury and Finance Mehmet Şimşek announced that Turkey is taking various innovative steps to enhance its export strength. Minister Şimşek stated that they will support value-added production and exports to increase competitiveness and productivity.
In a statement made via the social media platform X, Minister Şimşek expressed that they have improved the financing conditions for exporters. He noted that the cost of rediscount loans has been reduced from 35% to 29.9%, providing exporters with access to more favorable financing options. He emphasized that this measure will alleviate the financial burden on exporters and have positive repercussions for the sector.
Significant regulations have been made regarding rediscount loans
Minister Şimşek announced that the rediscount loan limit has been increased and the additional export value sales condition has been removed. The daily rediscount loan limit has been raised from 300 million TL to 4 billion TL, while the export value sales obligation has been reduced from 40% to 30%. These changes will provide exporters with easier and more flexible access to financing.
In addition to these steps, the reduction of the additional export value sales condition from 30% to 0% in rediscount loans is also a significant change. This will enable exporters to continue their operations under a lower financial burden. Minister Şimşek highlighted that these regulations represent a strong step towards increasing export volume.
Eximbank's capital has been strengthened
The increase in the capital of the Türkiye Export Credit Bank Inc. (Eximbank) is also among the regulations benefiting exporters. Eximbank's capital has been raised from 13.8 billion TL to 55.3 billion TL. This increase will provide exporters with broader financing opportunities and allow more projects supporting exports to secure funding.
The enhancement of Eximbank's capital strength will expand the scope of export credit opportunities and ensure that more exporters can benefit from these resources. Şimşek expressed that more exporters utilizing these opportunities would increase the competitiveness of Turkish products in international markets.
Tax exemption on service exports has been increased
Minister Şimşek announced an increase in the tax exemption applied to service export revenues. In this context, the exemption rate has been raised from 50% to 80%. This regulation will enhance the financial advantages of organizations exporting in the service sector, thereby supporting their competitiveness.
The increase in this tax exemption for service exports aims to strengthen Turkey's service sector on an international scale. Minister Şimşek emphasized that these steps will contribute to Turkey's export-focused growth strategy and affirmed that efforts to maintain sustainability and stability in exports will continue.