Published On: Sun, Nov 8th, 2020

Breaking News: Treasury and Finance Minister Berat Albayrak resigns

BREAKING NEWS: Treasury and Finance Minister Bert Albayrak announced his resignation on his official Instagram account. Treasury and Finance Minister Bert Albayrak has announced he is stepping down from his ministerial post “due to health issues”.

Mr. Albayrak (President Erdoğan’s son-in-law) has carried out the duty of Energy Minister for a while after which he was given the post of Treasury & Finance Minister by his father-in-law.

Unluckily it cannot be said he performed successfully and to the contrary he was observed to make several blunders and major mistakes in management of economy.

On the other hand, it is most likely that he was not totally autonomous in his decisions due to Erdogan’s firm grip on almost everything in the country (economy to be in the first plaace it goes without saying) and understanding of how economy functions.

So, it might not really be fair to put the whole blame on ALBAYRAK in regards to the current poor picture of Turkish economy.

Then again, it is understood that this move has to do with appointment of Mr. Naci AGBAL for the post of Central Bank Presidency. It is not secret (lately) that ALBAYRAK and AGBAL have not been in good terms for a while.

Let us wait and see what comes next.

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