ANKARA: Turkish President Tayyip Erdogan has issued a decree boosting the role of the Treasury, enabling it to work on developing the financial sector and take stakes in companies domestically and internationally, the Official Gazette said on Wednesday.
Under the decree, the Treasury is granted the authority to conduct work on strengthening financial stability and on monitoring and assessing developments in financial markets both domestically and internationally.
Changes were also made in the organisational structure of the Treasury and Finance Ministry, including to the roles of its various divisions, the Gazette said.
In a separate presidential decree, adjustments were also made to regulations related to project-based state support for investments.
It lowered from $100 million to 50 million lira ($9.1 million) the minimum level of investment needed to secure project-based state support for priority products, which are focused on technology.
For other project-based state support, the minimum investment required was set at 500 million lira, compared with a previous $100 million, the Gazette said.
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