Turkey Sees Cash Flow From $51 Billion UAE Deal Starting by End of This Year

Turkey anticipates investments in its economy by the United Arab Emirates will begin by the end of this year as part of last month’s landmark agreement, the first time it’s indicated the timing of when it expects the Persian Gulf oil producer to make good on pledges for financial support.

“We have very productive dialogue with Gulf countries, with the most concrete example being the $51 billion financial investment package announced by the UAE,” Turkey’s Treasury and Finance Minister Mehmet Simsek said in an interview with Yeni Safak newspaper published on Thursday.