9/14/2018
Noteworthy Statements by President Erdoğan
"We will complete ongoing projects, we will not start the projects tendered but not started yet. We will left them aside for now. Ministries will scrutinize the investment stocks. Production is the only way of development of a country. Turning this Wheel properly is the responsibility of financing agencies. Survival of financing agencies depend on real economy and real investor".
President Recep Tayyip Erdoğan has made noteworthy statements on economy agenda at TESK General Council on 13 September 2018 and Ak Party Enlarged Provincial Leaders Meeting on 14 September 2018. Erdoğan said, "We struggle to solve all issues, primarily fluctuations in foreign currency exchange rate, which affecting our economy negatively, within the framework of liberal market". Dwelling upon putting an end to renting and selling on foreign currency, President Erdoğan said, "In our understanding, no one who are not dealing with export or import, should be involved in foreign currency transactions". Underlining "in public expenditures we will do our best for saving at the highest level possible to contribute the budget balance", Erdoğan said, "Many Ministries and General Directorates are renters. We made planning on the buildings emptied when number of Ministries reduced to 16. From now on, a very serious saving will be made by moving from all rental buildings." Erdoğan has noted that a very serious public saving will be made. Erdoğan said, "We start production and efficiency economy, not wasting economy. We will complete the ongoing projects but we will not start projects tendered but not started yet. We put them all aside for now. Prevailing conditions require this". Erdoğan has further noted that the contracting companies will not be put into difficulty, "Ministries will scrutinize the investment stocks at hand. They will be considered on priority basis." MB interest increase Erdoğan has also dwelt upon the interest increase of Central Bank (MB) and foreign currency exchange rate increase and said, "Raising the exchange rate up to 7 Lira suddenly in August is an economic coup d’etat. Yesterday, MB raised the interest rate to a very high level. They talk about the independency, this is the autonomy itself. We will see how it will work. This is the limit of my patience. Production is the only way of development of a country. Turning this Wheel properly is the responsibility of financing agencies. Survival of financing agencies depend on real economy and real investor. If water pump not pums water, you are left without water, this is personally how I see the interest issue."
Annual Report
