Turkey Unveils $15.4 Billion Plan to Counter Virus Outbreak (3)

Turkish President Recep Tayyip Erdogan unveiled a 100 billion-lira ($15.4 billion) plan to help businesses ride out the economic storm caused by the coronavirus pandemic.

The government will introduce a set of new measures from tax cuts and payment deferrals for businesses to an increase in minimum pension payouts, Erdogan said Wednesday after meeting with senior officials and business leaders.

Turkey is following countries around the world in pledging stimulus in coordination with central bank action as the global economy grinds to a halt. Infections in Turkey are on the rise in a growing threat to tourism and manufacturing just ...