President Recep Tayyip Erdoğan assured investors and the public that there was no economic crisis in Turkey and the sudden rise in exchange rates were only manipulative moves, saying that the country will follow its own programs and come up with its own solutions to reach its goals.
Speaking at the Justice and Development Party (AK Party)’s 27th Consultation and Assessment Meeting in Ankara’s Kızılcahamam district on Saturday, Erdoğan said that Turkey had recovered greatly from one the largest economic attacks in Turkish history and had put a stop to the fluctuation in exchange rates in just under two months.
“To overcome [economic] hardship we have implemented and undergone major reforms and radical changes swiftly, that in normal circumstances would have taken years,” he said. Underlining that it was not possible to explain this sudden and sharp increase in exchange rates within the economic context, Erdoğan said Turkey was not avoiding taking responsibility but only assessing the situation.
Regarding ‘opportunists’ making astronomical price hikes using forex rates to their advantage, Erdoğan warned that necessary fines would be imposed on them within free market rules.”We will not abandon our people to the mercy of opportunists,” he said.
Erdoğan had urged Turks on Tuesday to report stores that had imposed unusual price hikes following fluctuations in rates.”Turkey is open to all sorts of investments and support as long as the price to pay is not sovereignty or the future of country,” the president added.
Erdoğan stated that Turkey asked for investments during official visits to foreign countries, but never for money. He said that the interest of international investors in Turkey continues, stating that good news is expected to be announced in the upcoming period without giving further details.
Erdoğan added that Turkey is among the countries with the lowest public debt to national income ratio. The Turkish president said that as long as he is alive, no international organization will be able to “put Turkey under the yoke”.
He also said he had ordered his ministers not to receive any financial advice or consulting from U.S. firm McKinsey,
saying the government would rely on domestic capabilities instead. Touching on the PKK terror attack in southeastern Batman province, Erdoğan said Turkey will eliminate all terrorists in Qandil and Sinjar and that they will pay the price for killing eight Turkish soldiers with at least 800 lives.
The terrorists detonated an improvised explosive planted in the road when an armored military vehicle passed through the area on Thursday, killing eight soldiers and injuring another. A wide-scale operation is ongoing in the area to nab the terrorists.
Erdoğan said Thursday that Turkey’s patience was wearing thin against terrorists and vowed retaliation against those responsible for the attack. In its more than 30-year terror campaign against Turkey, the PKK — listed as a terrorist organization by Turkey, the U.S. and the EU — has been responsible for the death of some 40,000 people, including women and children
Source: Daily Sabah