Turkey’s Minister of Economy: ‘Markets should not be interfered with’
Stating that the increase of the rate of dollar against Turkish lira would not have a permanent impact on Turkey’s economy, Minister of Economy Nihat Zeybekci said he ‘believed fully that the markets would realize their own balances’.
Also defending that their government sees the interference of the Central Bank with fluctuations through buying or selling currency as an ‘old school method’, Zeybekci said: “We do not see it as quite proper. We say this: it should not be touched on or interfered with. The markets would realize their own balance. However, while the markets find this balance, are there any aiding instruments that we can implement? Of course! And, we are already taking those steps, and, as the government, we are going to continue implementing them. But I will also say that there will not be a permanent impact on economy because of the increase of foreign currency rate.”
Asked whether the causes behind the recent increase of foreign exchange rates was due to a particular buying or not, Zeybekci responded: “I do not see a point of purposeful buying so far. Turkey has not come to such point. I mean, we have not come to a point where there could be such hostile attack; however, on the other hand, a shaking of the value of TL is possible because of the purposeful speculations that are created. That is what we have observed, so far.”
Zeybekci had also made a call to Turkey’s Football Federation (TFF) earlier and said: “I am openly calling on the football federation here about its broadcasting tender. If the contract for the tender has not been settled yet, it could be reviewed and proposed to the broadcasting institution by the Federation with the value of Turkish Lira... I think, such step would be significant, even if it would be small and symbolic, in helping our efforts...”
Source: https://www.birgun.net/haber-detay/ekonomi-bakani-ndan-dolar-aciklamasi-dokunmamak-lazim-137235.html