Finance Minister Berat Albayrak said the amount provided under the relief package that was announced on March 18, is 5 percent of the country's gross domestic product
Turkey's Economic Stability Shield package launched to curb economic fallout from coronavirus has hit $35 billion so far, the treasury and finance minister said on Wednesday.
Addressing a virtual meeting held by the country's Foreign Economic Relations Board (DEIK), Minister Berat Albayrak said the amount provided under the relief package which was announced on March 18, is 5 percent of the country's gross domestic product (GDP).
"If we need to express its economic size with multiplier effect, this figure reaches $75 billion, which is equivalent to approximately 11 percent of GDP," Albayrak stressed.
The government provided cash aid for nearly 5 million families with low income, he added.
The meeting discussed various ways to eliminate the impact of the pandemic on the economy and steps to be taken to utilise the potential of the new norm in the best way, he said.
Stressing that the government will continue efforts to fight coronavirus, Albayrak said Turkey is among the best-performing countries with its support-to-GDP-ratio regarding coronavirus relief packages.
Albayrak highlighted the country’s determination in putting the best and accurate policies into practice, while re-handling its foreign trade.
"The number of countries to which Turkey sent medical aid surpassed 60," he stressed.
Nail Olpak, the head of DEIK, said also helping other countries, Turkey has shown a great solidarity during the pandemic period.
He said Turkish companies did not shutdown completely in this process and managed to protect their businesses and personnel.
"During this pandemic, which requires a long-term struggle, it is not possible to get results by halting everything," he added.
"We did not stop the wheels of the economy with supports and postponements."