Mar 23 2018

Şimşek says Turkey to take measures to help lira

Turkish Deputy Prime Minister Mehmet Şimşek said the lira’s slide against the dollar is stoking inflation and the government will take measures to reduce companies’ reliance on foreign borrowing.

The government can see that Turkish firms with large foreign debts are not able to manage the situation effectively, the former Merill Lynch economist said, according to Sabah newspaper.