From the Secretary of the Treasury to the Business World: Break 100 Million Dollars

Recently, Turkey has continued to reduce policy rates gradually by making a de facto transition to a ‘new economic model’. With every interest rate decision announced by the Central Bank of the Republic of Turkey currency continued to rise, inflation has increased, any product in our country has increased by more than 50% compared to its price just a few months ago.

On the other hand, the Central Bank intervened directly in the market in the direction of selling 4 times in the last 2 weeks due to the “unhealthy price formations” in the foreign currency. This intervention Its total cost is 4-5 billion dollars.In other words, it was stated that 4-5 billion dollars of money from the reserves of the Central Bank was sold to the market. However, while these interventions could not prevent the increase in foreign exchange, a striking statement by the new Minister of Treasury and Finance, Nureddin Nebati, was reflected in the media.

“Changing 100 million dollars each”

According to a column published by Sabah newspaper columnist Dilek Güngör, Treasury and Finance Minister Nureddin Nebati made an interesting request at the meeting where he met with the business world at the Dolmabahçe Labor Office. During the meeting, Minister Nebati told the participants from the business world “All of you exchange 100 million dollars each.‘ he was reported to have said.

However, Minister Nabati’s inflation and that the exchange rate should fall It was also stated that he agreed with the business world. Author Dilek Güngör conveyed the other details as follows:

“The money they took from the bank, taking advantage of the decrease in interest rates from businessmen, asked them not to invest in dollars… While describing the new economic model, he emphasized the improvement in the current account deficit…”