ISTANBUL: Turkish President Recep Tayyip Erdogan on Friday unveiled a long-promised economic reform package that he hopes will boost the confidence of skittish foreign investors and temper inflation while boosting trade. It included tax breaks for small business owners and a pledge to improve efficiency that could help export-driven growth.
But he made no mention of supporting the central bank's independence in future interest rate decisions - a key foreign investor demand.
He identified the fight against persistent inflation as "one of the main objectives" with the goal of quickly "bringing it down to single digits". Erdogan's pledges on Friday included an income tax break for 850,000 small businesses and improved transparency in public tenders.
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