Report: Dollar stabilizes at TRY 6 in Turkey- ANALYTICS

Baku. 21 September. REPORT.AZ/ According to the new economic program announced by the Turkish government yesterday, the  state budget expenditure is expected to be TRY 60 bn  (about $ 9.5 bln) next year, while additional revenues TRY 16 bn (about $ 2.5 bn) and a total saving will make TRY 76 bn (nearly $ 12 bn).

Report's analytical group notes that the program involves maintaining a balance between different sectors of country's economy, strengthening financial discipline and positive changes.

In the next three years the government will seek to strengthen the fight against rising prices, reduce the deficit in the foreign trade balance, increase employment, further replenish the budget through the development of the real estate market, improve the macroeconomic situation as a whole and implement a number of social projects.

A public finance department has been established in the country's Treasury and the Ministry of Finance to monitor the implementation of the program in various regions of Turkey

After the announcement of the program, the Turkish lira slightly strengthened against foreign currencies, including the US dollar. The TRY / USD rate fell from 6.3 to 6.1, and now the rate is nearly TRY 6.3.

Report's analytical group believes that once the new economic program is launched, the dollar exchange rate in Turkey will stabilize at the level of 6 liras.