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Turkey to focus on structural reforms: Treasury minister.

ISTANBUL, April 10 (KUNA) -- Turkey will focus on structural reforms to achieve the target of becoming greater and more powerful, the treasury and finance minister said Wednesday. "This transformation and reform process will decisively continue in a 4.5-year period with no election," Berat Albayrak said. Speaking at a news conference to announce the government's action plan, Albayrak said the financial sector prioritized a new set of structural reforms for 2019. "Strengthening state-run lenders' capital structure will be our first step," he said, noting the Treasury will issue 28-billion Turkish lira worth (around USD 5 billion) government debt securities to make state banks' balance sheets robust. Albayrak said studies in coordination with the banking watchdog and banking association are continuing to support private lenders' capital structure. The minister noted that a new individual pension system according to citizens' income level will be determined in the coming period.(end).

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Publication:Kuwait News Agency (KUNA)
Date:Apr 10, 2019
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