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BUSINESS >We don’t let any companies with cash problems to go down: Turkish deputy PM

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The government will not allow any companies that have faced cash flow problems to go bankrupt, Deputy Prime Minister Nurettin Canikli said on Jan. 9, amid the Turkish Lira’s continued decline.

“No companies that have faced problems in their cash flow due to sharp rises in foreign exchange rates or the slowdown in demand will go bankrupt. We will not allow any room for this,” said Canikli in a televised interview on private broadcaster A Haber, as reported by Reuters. 

He also claimed that some “black campaigns” were underway to damage perceptions about the Turkish economy. 

“We have also seen a campaign aiming to push up interest rates. The rates are set by the Central Bank and no pressure here can be acceptable,” Caniki said, adding that the impact of dollarization on the Turkey economy was at a much lower level compared to previous years. 

“We will not see any problem with growth as long as the real sector continues to produce,” he said, adding that fluctuations in foreign exchange rates would only have a “limited impact” on the inflation rate. 

“The real sector will not be affected negatively by recent developments, as we have taken all measures necessary to achieve this,” said Canikli.

January/09/2017

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