With the new scheme announced to protect Turkish lira deposits and ease the foreign exchange burden, the “bubble” in the exchange rates disappeared in almost a day, President Recep Tayyip Erdoğan said Friday.
Erdoğan was speaking during a meeting held with the press and academics at the Dolmabahçe Office in Istanbul.
The president said that when the balance is ensured financially in this new mechanism within a short time, “we will witness that our country has entered a completely different economic climate toward the upcoming summer months.”
He said Turkey has launched a historic change in economic policy, adding that the new approach sets aside the classic understanding of controlling inflation with high interest rates.
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