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benefited from Eximbank’s first-half financing, marking a 12% y/y increase, Trade Minister Ruhsar Pekcan told reporters. “As the Trade Ministry, we want to add more small and medium sized companies to Eximbank’s customer portfolio. Today, 72% of Eximbank customers are SMEs but we want them to take a larger share,” she added. Eximbank aims to provide financing support of $48.4bn to local export companies this year, which will back 27% of total exports. In 2018, Eximbank’s financing support for Turkish companies firms stood at $44.2bn, covering 26% of Turkey’s exports. According to Turkish statistical agency TUIK, Turkey’s export revenues rose by 12.1% y/y to $15.98bn in May while export revenues increased by 4.9% on an annual basis to $72.7bn in the first five months of the year.
8.1.3 Deposits
8.1.4 NPLs
With half of Turkish lira (TRY) 400bn ($72bn) of troubled loans in Turkey already reorganised, the government won’t cover any losses incurred from bad loans, Treasury and Finance Minister Berat Albayrak was reported by Bloomberg as telling reporters in Ankara on July 30.
The government is presently devising legislation to facilitate restructuring negotiations between lenders and borrowers.
42 TURKEY Country Report August 2019 www.intellinews.com