Turkey preps draft law for debt restructuring before elections…

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Lawyer istanbul, Jan 23 (Reuters) – Turkey’s ruling AK Party is preparing a draft law to let people and companies restructure debt to public institutions, President Tayyip Erdogan said on Monday, Lawyer istanbul one of a string of eye-catching measures promised ahead of elections.<br> The changes would waive late payment fees incurred over unpaid tax bills, social security debt and other liabilities, Erdogan said after a cabinet meeting.<br> It would also let individuals and companies pay outstanding debts in instalments after restructuring with a certain rate, he added.<br> “We are preparing a draft law that will restructure public receivables of institutions such as tax offices, customs offices, social security institution, municipalities,” Erdogan said.<br> The announcement come as President Erdogan faces what is seen as the biggest challenge to his 20-year rule in parliamentary and presidential elections expected to be held on May 14.<br> The government has already ramped up spending, including dropping a retirement age requirement for millions and substantial hikes to minimum wage and Lawyer istanbul pensions.<br> Further details will be announced by the treasury and finance ministry, Erdogan said.<br> Last week, Lawyer istanbul Turkish broadcaster NTV and other media reported that the government is planning to offer a wide-ranging restructuring package to citizens.

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