Economy

The powers granted to the executive branch via State of Emergency executive decrees were also used in managing the economy. As of November 27, 2017, across Turkey, 1001 companies were seized for alleged ties to FETÖ, and special administrators were appointed to manage these. Numerous executive decrees implemented important measures concerning the management, liabilities and liquidation of these companies. Likewise the bankruptcy postponement mechanism was banned with the pretext that FETÖ-affiliated companies abuse it. Another group of provisions consisted of a number of economic and fiscal measures to delay the worsening crisis atmosphere for at least a while. Turkey Wealth Fund, which seems to have been established to serve as a guarantor for borrowing was shaped with executive decrees. New changes were introduced to the Law on Public Tenders, which has undergone countless changes in the last decade. Law on Unemployment Insurance continued being used for reasons outside of its purpose. Again, executive decrees were used to bolster the construction sector, which has become the driving engine of the Turkish economy in recent years.