Turkish citizens and investors should trust the national currency, President Recep Tayyip Erdogan said, local media reported Sept. 14.
He noted that the private sector of Turkey should also conduct active struggle against the lira speculations.
“Entrepreneurs should increase production and this will positively affect Turkey’s economy,” he said.
Erdogan noted that Turkey has the potential to combat speculations with the national currency.
He said that approximately in 2019, Turkey will completely solve the problem related to the national currency.
Erdogan said the decision made Sept. 13 to switch to national currency in sale and lease of real estate will positively affect Turkey’s economy.
Also, the president of Turkey sharply criticized the decision of the Central Bank to raise the discount rate.
“The Central Bank claims that it is independent, and for now, I am waiting patiently for the results of the decision the bank made,” he said.
On Sept. 13, the Central Bank of Turkey decided to sharply raise the key interest rate. It will increase by 6.25 percentage points from 17.75 percent to 24 percent.
President Erdogan said the rate of 17.75 percent is already too high and urged to decrease it.
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