Economy in Turkey: Restrictions on installments for credit cards on the way

The “Presidential Annual Program for the Year 2024,” approved by President Tayyip Erdoğan, was published in the Official Gazette last night. One of the notable topics in the program is measures aimed at curbing consumption to combat inflation.

According to reports on media, the program states that monetary policy tools will continue to be used strongly to reduce inflation and fiscal and revenue policies will be conducted in coordination with monetary policy.

In this regard, measures will be implemented to prevent consumption increases that fuel inflation. As part of this, limitations on the number of installments for credit card purchases and cash withdrawals are being considered.

The program also indicates that a new practice will be introduced to prevent rent and housing price increases.