Turkey soon to leave currency volatility behind: Erdoğan

ANKARA

President Recep Tayyip Erdoğan on Jan. 19 pledged that the Turkish Lira would leave the volatility behind and the inflation would decrease thanks to their new economic program, stressing that its positive results would be seen this month.

“As of January, everyone will begin to see these increases in their lives. With the stabilization of the exchange rate, no one will be able to chase pricing vaguely. We think that there will be no more fluctuations in the markets due to the unbalanced foreign exchange demand,” he said at a meeting with mukhtars.

Erdoğan also pledged to decrease inflation in Turkey, defining the high rate as a “bubble.”

“We believe that, like the exchange rate, we will get the bubble on inflation soon. Thus, the increases we make in salaries will become more meaningful,” he said.

As the uncertainty caused by the pandemic increases, opportunities for Turkey continue to turn into profit, the president said, adding, “The world is following Turkey’s steps closely. Besides our difficulties, we have many reasons to be hopeful.”

In summer, Turkey will see where the government’s new economic program, which brings Turkey closer to its goals in the economy, will take the country, Erdoğan stated.

“We will leave a strong and prosperous Turkey to our youth by bringing our country together with the world’s top 10 economies and creating an employment climate where everyone will have a job,” he said.

From the minimum wage to civil servant salaries, the government has made arrangements that will not “crush the people under exorbitant prices,” he said.

“While we dream big for our country, we do not ignore the problems that our people experience in their daily lives,” he stated.

“We were not content with the fact that the salaries of mukhtar were below the minimum wage. As a result of our evaluation, we decided to raise the headmen’s salaries to the minimum wage level, that is, to 4,250 liras,” Erdoğan said.