Turkey’s Deputy PM says “We will not be stubborn with the markets”

Mehmet SIMSEK (Deputy Prime Minister for the Economy) who is scheduled to go to London next week with Murat CETINKAYA, President of Central Bank evaluated the latest moves of the Central Bank of Turkey (CBT) and developments in the economy. He said “Turkey will not be stubborn with the markets. We will not step back from the rule-based market economy”.

However, SIMSEK also said, “We will not use conspiracy theories as shelter and do our part. The sector affected by the exchange rate increases is the real sector and we are not indifferent to this. We will help them with their obligations.”

SIMSEK went on to say “Our central bank will do what is necessary. The Central Bank has full support of our government. The CBRT has presented a very strong response, and this response will continue in the future when necessary. Normalization and simplification process in monetary policy will continue.” He also added the public sector did not have a debt issue.

The Minister also made statements about HALKBANK of Turkey and said “We will respond to the claims regarding HALKBANK. One of these allegations against said bank is unfounded and the bank has denied it.”

SIMSEK summarized his views on the OHAL (State of Emergency) situation as follows: “They say if there was no OHAL, the lira would not have lost so much value. OHAL affects foreign investment that is true, but why did OHAL come? It came because of a necessity. Turkey was the scene of a very complex coup attempt and the terror organization carried it further to a new dimension with several moves (in the south east of Turkey). The moment Turkey is over with terror OHAL will not continue a single day.”