Turkey doesn’t need state of emergency anymore: Şimşek

Turkey doesn’t need state of emergency anymore: Şimşek

Turkey doesn’t need state of emergency anymore: Şimşek

There is no need for Turkey to continue the state of emergency anymore as the country has already destroyed the terror corridor, a top economy official has said.

During a televised interview on June 21, Deputy Prime Minister Mehmet Şimşek also said recent steep fluctuations in foreign exchange rates stemmed mainly from global economic developments, while some uncertainties about Turkey’s monetary policy were the main reason behind the previous fluctuations along with global economic concerns.

“Turkey needed to launch a state of emergency after a coup was attempted on July 15, 2016, and had to extend the emergency rule a couple of times. We do not want to maintain it even for one more day. Our president [Recep Tayyip Erdoğan] has pledged to end the state of emergency. This development is of great importance,” he said during the interview with Habertürk TV in the southeastern province of Gaziantep.

“Turkey has already destroyed the terror corridor through various military operations, like in Afrin. And it has become successful in its fight against the Fetullahist Terrorist Organization [FETÖ]. Therefore, there is no need for the maintenance of the emergency rule anymore,” he added, noting that the end of the state of emergency would positively affect the inflow of foreign fund into the country.

“Besides, the loss in the Turkish Lira has mainly stemmed from deterioration in Turkey perceptions and its negative impacts on the foreign fund inflows into Turkey.”

The Turkish Parliament on April 18 extended the ongoing state of emergency for the seventh time for another three months, meaning the upcoming early elections on June 24 will be held under the emergency rule despite widespread disapproval from opposition parties.

Şimşek also noted that the recent loss in the lira was mainly due to global economic developments, namely an escalation in worries about the outbreak of a trade war.

The lira stood at 4.76 against the dollar on June 21 noon local time. It hit a series of record lows in May, weakening as far as 4.9290 before recovering after the Central Bank raised interest rates.

$1.5 bln worth of defense export to Asia

Şimşek also said his team is in talks with an Asian country to sell $1.5 billion in advanced technology products, while elaborating on the rise in defense production of Turkey in the last decade.

He, however, did not specify the country.

“While we were importing almost 75 percent of our defense industry needs some decade ago, this rate has now declined to 40 percent. Turkey has now become a key defense exporter,” Şimşek added.