Reaction message from Economy Professor re devaluation of TL: “I beg you, make no more mistakes”

After the Dollar/TL exchange rate broke consecutive records, Professor Demirtaş (Economist, at Sabancı University) shared his reaction/protest on his social media account saying “There is no other Turkey. I beg you, don’t make anymore mistakes.”

The dollar / TL continues to rise after President Erdoğan of the AKP reiterated that they were committed to low interest rate policies after the cabinet meeting yesterday.

The dollar, which started the day at the level of 11.40 TL, exceeded TL 12 first in just a few hours and then exceeded TL 13.

The professor shared a message on his social media account with following statement:

“I’m begging you, don’t make any more mistakes.

Inflation goes up when interest rate falls.

When interest rate falls by order (and not on its own); the prices of dollar, euro, gold, real estate and all kinds of goods go up (sky-rocket).

When this happens, the rich who are in possession of above become RICHER, and the poor who do not have property become POORER.”