Automotive Exports March 2021

of new coronavirus cases in the country
rose to the highest level this year, Health
Ministry data showed.
The number of new cases stood at 14,556,
the highest since the end of last year and
nearly double from a month ago.
Health Minister Fahrettin Koca blamed the
rise in cases on a faster spread of COVID-19
variations.
The country’s case tally stands at 2.82
million, while the nationwide death toll
reached 29,227.
With a population of 83 million, Turkey has
administered 10.41 million vaccine doses
since mid-January. More than 7.7 million
people have received a first shot and nearly
2.6 million a second dose of the vaccine
developed by China’s Sinovac Biotech.
The business world’s eyes are also on
whether the government will be extending
the scheme that provides wage support to
employees of companies who have been
hit by the pandemic. Erdoğan has said the
short-term work allowance would end as
of the end of March. Under the allowance,
the government has been paying 60% of
staff salaries.
Workers, including those forced to
take unpaid leave, were also extended
support payments as they were not
eligible to benefit from the short-term
work allowance. On the other hand, the
banking industry, mainly the public lenders,
stepped in throughout the year, deploying
several loan packages and postponing debt
payments.
As of this year, tradespeople and
shopkeepers have been also extended
grant and rental support. The Trade
Ministry also provided support for loss of
turnover to businesses engaged in food
and beverage service activities that were
negatively affected by the outbreak.
Despite the last year’s coronavirus fallout,
the country’s economy has managed to
emerge as one of only a few countries to
avoid an economic contraction.
The gross domestic product (GDP) grew
5.9% in the fourth quarter and 1.8% in
2020 as a whole, according to official data.
The country outperformed all emerging
market (EM) and G-20 peers except China.
61 March 2021