Roundup: Erdogan unveils second 100-day plan with focus on Turkish slowing economy
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E-mail Xinhua, December 14, 2018
ANKARA, Dec .13 (Xinhua) -- Turkish President Recep Tayyip Erdogan unveiled on Thursday the second 100-day action plan with a focus on stimulating the slowing economy, four months after the first one was announced.
"We have made important achievements in order to attain our targets against the attacks our economy has faced," Erdogan said in his presentation of the plan at the presidential complex in the capital Ankara.
The Turkish leader said the new action plan includes 454 projects worth 24 billion Turkish liras (4.49 billion U.S. dollars), adding that 340 of the 400 projects in the first plan had been completed.
In addition, two new institutes, the Financial Stability and Development Committee and Turkey Development Fund, will be established to boost financial sector and private investment.
According to Erdogan, Turkey is now trying to use local currencies in trade with 12 countries after Turkish lira lost more than 30 percent in value since the start of the year, which makes it harder for Turkish corporations to repay their debts valued in foreign currencies.
A financial crisis in summer has put Turkey's economy in a vulnerable situation with rising inflation and unemployment.
The second 100-day action plan also includes transport projects, with the tender on Kanal Istanbul and the Istanbul Tunnel projects to be announced in the period.
One of the biggest achievements of the first 100-day plan is the opening of the new Istanbul Airport, one of the world's largest airports.
In addition, Turkey will start the construction of part of the TurkStream natural gas pipeline project in Turkish territories and finish it by the end of 2019.
TurkStream is an export gas pipeline set to cross under the Black Sea from Russia to Turkey and also further extend to Turkey's borders with neighboring countries.
Meanwhile, Turkey has formally established a space agency to develop the country's space program, according to a presidential decree on Thursday.
Turkey Space Agency, with financial and administrative autonomy as well as a special budget, will prepare and carry out the National Space Program in line with the policies determined by Turkish president, the decree said. Enditem
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