Govt to announce new measures to fight economic crisis

The government will announce a new package of measures to help reduce the impact of the global economic crisis, Finance Minister Kemal Unakitan said yesterday. Among the new measures, Unakitan said, are "unemployment aid," or deliveries of cash to private-sector companies if they keep their workers instead of dismissing them amid the economic downturn. "We will give money to companies instead of encouraging employment by indirect measures, such as a reduction in social security insurance premiums," he said, adding that the funds will be outright grants, not loans. He said specific help will also be announced to support the automotive industry, the engine of Turkey's manufacturing industry, which has been hit by falling foreign demand due to the crisis. Unakitan declined to say more about the new package, but said details would be forthcoming later this month.