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 $5 billion) government debt securities to make state banks’ balance sheets robust.
The minister noted that a new individual pension system according to citizens’ income level will be determined in the coming period.
“In the next five years, funds accumulated in the new retirement system will exceed 10% of the country’s gross domestic product,” Albayrak said.
He added that Turkey will also take steps in the real sector to ensure the healthy working of the financial sector.