Full title: Mergers & acquisitions - National anti-crisis measures - Emergency politics: Turkey - Elections spur actions

Date: March 2009

Publication: Finance

Synopsis: Senior Associate, Erdem Egemen, of our Corporate practice discusses the economic crisis and Turkey, highlighting current initiatives being taken to the backdrop of local elections and a worried electorate. Measures taken to date include a slash in the price of gas for private and industrial consumers, easier borrowing for SMEs, boosting the Turkish automobile industry, attracting investment from the Persian Gulf, tax breaks for Turkish diaspora and the privatisation of the national lottery and highways.

Excerpt: In Turkey, the financial crisis has not only affected the economy but also politics: The elections scheduled for March 29, 2009 have encouraged the ruling party AKP to vamp up the anti-crisis measures. It has cut gas prices, a primary drag on competitiveness, by 17 per cent for households and 18 per cent for industrial use, effective as of February 1, 2009.

Download: Finance EE

Contributor: Erdem Egemen: Corporate/M&A