I studied economics and it takes courage, says Turkey’s Erdoğan

Turkish President Recep Tayyip Erdoğan on Monday during an interview with Habertürk TV, responded to questions on the country’s ailing economy, saying that he studied economics and was told by his teachers that the field requires courage, secular newspaper Cumhuriyet reported.

The president’s comments follow last week’s record dip of in the Turkish lira against the dollar, raising concerns that an overheating economy could be faced with a similar crisis. On Wednesday, the country’s central bank raised interest rates, in a move which had been staunchly opposed by Erdoğan, halting the lira’s slide.

‘’Politics, too, is a matter of courage. Anyone who is not willing to demonstrate courage should not enter politics. You must be ready to pay a certain price,’’ Cumhuriyet quoted the Turkish president as saying.

Erdoğan’s ruling Justice and Development Party (AKP) government is being criticized for not taking heed to warnings from the likes of the IMF that the country’s economy was overheating.