Aug 09 2018

No need for panic over Turkish economy – AKP

Turkey’s ruling Justice and Development Party (AKP) has told people to remain calm and not worry about the economy despite the lira continuing to lose value against the dollar, independent news website T24 said.

“There is no such thing as ‘Turkey going bankrupt because the dollar increases by three kuruş,” AKP party whip and spokesman Bülent Turan said. There are 100 in one lira.

“The dollar will right itself and our investments will continue at full pace. We know what plot is being played out behind this curtain. These plots will also be foiled,” he said.

The lira began the year at 3.79 to the dollar and has now decreased in value to 5.50.

The reason for the drastic decline, Turan said, was an economic sabotage attempt by the same people who were behind the military coup attempt of July 15, 2016.

But, he said, Turkey had become much stronger than in previous years and it was no longer dependent on Western institutions.