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Turkey achieves surplus of more than 100 million dollars in budget last August

Turkey announced that its budget achieved a surplus of 576 million TL
(about 100 million and 700 thousand dollars) during last August.
Data from the Turkish Treasury and Finance Ministry showed that
revenues for August rose 34.1 percent compared with the same period
in 2018.
The ministry pointed out that the revenues of August 2019, recorded
94.3 billion pounds, while budget expenditures in the same month
decreased by 23.2 percent, to 93.7 billion pounds.
Ankara recently announced that it aims to raise the value of its exports
to 500 billion dollars by 2023, which marks the centenary of the founding
of the Turkish Republic.
Turkey has witnessed in recent years, especially after the transition to
the presidential system, the adoption of new laws and comprehensive
reforms in the economic field, in order to reduce unemployment rates
and inflation, and reduce the volume of imports coinciding with the
increase in exports.

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We aim to increase the volume of our exports to 500 billion dollars until 2023

Turkish Foreign Minister Mevlut Cavusoglu said his country aims to raise
its exports to 500 billion dollars by 2023.
Gavishoglu added in a tweet posted on his Twitter account that he
discussed with the directors of the Exporters' Union to increase and
expand exports.
Earlier, Turkish Vice President Fuad Oktay, that his country is
determined to achieve its economic goals for 2023, most notably raising
the volume of exports to 500 billion dollars.

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Turkey announces inflation targets in coming years to reach 4.9 percent

Turkey has announced a new roadmap for the economic program it aims to achieve over

the next few years until 2022. This came in the words of the Turkish Minister of Finance and Treasury, Prat Albayrak, in a press conference held on Monday, in Istanbul. The Turkish minister said that “despite the expectations of the Turkish economy to shrink, after the fluctuations of the value of the lira in August 2018, there are strong prospects for the economy to achieve positive growth this year.” He added that 2019 and 2020 are a period of equilibrium for the Turkish economy,

and that his country was able to succeed in a period when the global markets have experienced disruptions, according to ‘Anatolia’. He pointed to the strength of the infrastructure of his country’s economy, and its ability to restore its balance quickly after the attacks. He said the new economic plan targets 12% annual inflation by the end of 2019. He added that inflation targets for the next

three years in . Turkey would be 8.5% for 2020, 6% for 2021 and 4.9% for 2022.

In terms of growth, the Turkish minister

said the plan targets

a growth rate of 0.5% in 2019 and 3% in each of the following three years

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Turkish lira rises after Trump announces lifting of sanctions on Ankara

The Turkish lira strengthened its gains on Wednesday after US President Donald Trump announced the lifting of sanctions against Ankara following an agreement to halt the peace process in northeastern Syria. The currency has risen in recent days as the threat of further US sanctions subsided after Ankara agreed to halt its operation in Syria against the YPG in Syria. The lira was at 5.7325 against the

US currency at 16:00 GMT,

up about 1.3 percent from Tuesday’s closing level of 5.8100 and outperforming all other emerging market currencies. . The main index rose 1.94 percent at the close today,

while the Turkish banking sector index advanced 2.27 percent