The government is considering a potential extension of the Emergency Credit Line Guarantee Program, intended particularly for Micro, Small and Medium Businesses, given the uncertainties in the world and the forecast of weaker economic development in the upcoming year (MSMEs). An official source said the plan, which was launched in May 2020 amid the epidemic, may be extended by six months starting on March 31, 2023, and that a decision will be made soon.
The idea is born at a time when the economy has recovered from the epidemic, but small and medium-sized businesses are perceived to need extra assistance and hand-holding because many of them are still having a hard time. The downturn in global demand is also anticipated to have an impact on export-intensive industries, many of which include the textile industry. and MSMEs predominate in the clothing, leather, and chemical industries.
