Tokyo, 25 December, /AJMEDIA/
With the new scheme announced to protect Turkish lira deposits and ease the foreign exchange burden, the “bubble” in the exchange rates disappeared in almost a day, President Recep Tayyip Erdogan said, AJMEDIA reports citing Daily Sabah.
Erdogan was speaking during a meeting held with the press and academics at the Dolmabahche Office in Istanbul.
The president said that when the balance is ensured financially in this new mechanism within a short time, “we will witness that our country has entered a completely different economic climate toward the upcoming summer months.”
He said Turkey has launched a historic change in economic policy, adding that the new approach sets aside the classic understanding of controlling inflation with high interest rates.
“Rather, it has adopted an economic policy based on growing the country with investments, employment, production, exports and current surplus,” he explained.
Noting that the foreign exchange reserves of Turkey’s central bank currently stood at over $115 billion, Erdoğan said: “This amount will be in a much better position. Today, Turkey has the infrastructure it needs in every field from education to health, from security to law, from industry to tourism.”
