Economy2 hours in the past (Dec 20, 2021 01: 25PM ET)
© Reuters. FILE PHOTO: Turkish President Tayyip Erdogan addresses the audience as he attends a ceremony in Istanbul, Turkey, December 19, 2021. Murat Cetinmuhurdar/Presidential Press Feature of job/Handout by REUTERS
ANKARA (Reuters) – Turkish President Tayyip Erdogan presented a assortment of measures that aimed to shut additional dollarisation and reduction savings to be made in lira, as he repeated a defence of his low-charges policy, even as the lira crashed to document lows.
Talking after a cupboard meeting, Erdogan said the measures would fabricate definite voters would no longer favor to noticeably change their lira into foreign currency, whereas imposing a quantity of measures to abet exporters and pensioners.
He said there would be “no turning reduction” from the original mannequin in step with low ardour charges, adding the central monetary institution’s ardour payment cuts would mutter a tumble in inflation – currently above 21% – “within months”. He repeated that the fluctuations in change charges and prices weren’t in step with economic fundamentals.
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