MTEP/NEP: First impressions...

TURKEY - Report 20 Sep 2018 by Murat Ucer

The much-anticipated Medium-Term Economic Program (MTEP) – or the New Economic Program (NEP) by its new name -- was announced this morning by the Treasury and Finance Minister Mr. Berat Albayrak in a short presentation. (The document is available only in Turkish for the moment; English version of the presentation is available on the Treasury website).

Judging from lira’s fairly sharp swings during and after the presentation -- a sharp appreciation, followed by weakness that more or less offset the initial strength -- the market’s response to the MTEP has been broadly neutral to slightly negative.

Now read on...

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