12/8/2021, 6:02 PM (Source: TeleTrader)
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Erdogan: Exchange rate volatility will stop after a while

Turkish President Recep Tayyip Erdogan said on Wednesday that the current exchange rate volatility and high prices caused by rising energy costs will end after a while and called on his compatriots to trust his government's economic model.

"Our aim is to provide permanent production, permanent employment, permanent prosperity," Erdogan said in a speech after a cabinet meeting. "We are taking the necessary steps to reduce the burdens on all segments of our nation, especially the low-income, wage earners and retirees," he added.

The Turkish president claimed the country is "waging one of the most critical economic struggles in its history" but insisted his economic policies, including low interest rates, will pay off in the long term.

Baha Breaking the News (BBN) / NP