President Erdogan: “This government will not increase interest rates”
President Erdogan, who made a statement after the cabinet meeting, said:”This government will not increase interest rates. We will continue to reduce interest rates.” Erdogan made very important evaluations regarding Turkey’s economy.
President Erdogan noted following:
“We are developing new methods that will accelerate the inflow of foreign currency to our country by encouraging exports and supporting tourism. Our exporters are breaking records every month. We can say that when we put aside the deterioration in our imports of exorbitant increases in energy prices, we have moved to a current account surplus.
WE WILL PULL DOWN INCREASE RATES
While all developed countries are experiencing severe pains in the balance of payments, we are in better shape than all of them. No one should expect this government to increase interest rates; on the contrary, we will continue to reduce interest rates. My problem is, the investor should invest via the first-degree public banks and, if private sector banks are involved as well, with a loan provided at a low interest rate.
Let’s provide employment with it, increase production, exports and ensure growth with it. As a result of this, unemployment will also decrease further. The reason why China and Japan are consciously devaluing their money by going to monetary expansion and interest rate cuts is because they are trying to escape this storm.
WE WILL REACH OUR TARGETS IN THE FIRST MONTHS OF THE NEW YEAR
Our budget realizations are in very good shape despite some deviations caused by serious tax cuts and energy payments that we have made in many areas. If a hot conflict had not broken out right next to us, our people from all walks of life would have started to see the tangible benefits of our program in their lives in these post-epidemic months. Hopefully, with a little delay, we will get to this point in the first months of next year.
We will disrupt the game of stockists by encouraging the production of their products, whose prices are increasing in a way that cannot be explained, and facilitating their supply. We have no serious problems with economic stability and financial stability. We plan to ensure price stability by increasing the current account surplus as well as the measures we have taken.
Recently, we have made many attempts to provide additional source input in our country. Part of it is actually functioning, and part of it we are protecting the mechanisms. We are continuing our program with macro steps that will stop price increases and compensate for the loss of our nation’s income. The wheat and barley purchase prices we announced yesterday are a clear form of our support for farmers.
