Difficult times for the Turkish economy. At 50% the borrowing rate.

At a higher level than in 2002, when Erdogan came to power.

“Erdogan declared that he would reduce them, he raised them to record levels,” reports the Turkish media, as reported by Manolis Kostidis from Istanbul.

“As long as this brother of yours is in power, interest rates will not rise. Interest rates will continue to decrease. Maybe they will increase in the US, maybe they will also increase in Europe, but in Turkey they will decrease,” Erdogan said.

“The Central Bank in its last meeting before the municipal elections increased the interest rates, despite the contrary predictions. The Council of the Bank increased the basic lending rate by 500 basis points, which reached 50%” commented the SOZCU TV report.

Commentator Fatih Portakal said: “Taking you back to 2013. A bit of nostalgia. Let’s see where we got. Where we were from and where we got to. We shouldn’t say big words. Erdogan talks big. See what he had written on April 30, 2013. ‘When we came to power, that is in 2002, interest rates were at 47%. We see where we have been and where we have come. In fact, today the interest rates reached 50%. Look where we were and where we got to!”.

“Cyprus is our national issue – There are two states in Cyprus and that will not change” said Erdogan’s mayoral candidate

Murat Kouroum stated: “If there is a Greek state in the south of Cyprus, there is a Turkish state in the north. There is the ‘TDBK’. That hasn’t changed and it won’t. Cyprus is our national cause. We will continue to glorify our national cause with the historic steps we take together, including the opening of Famagusta.

Under the leadership of our president, despite the unfair and illegal embargoes, we will make Cyprus the pearl and ‘apple of the eye’ of the Eastern Mediterranean and make it a completely different pole of attraction.”

Erdogan accused of lying about interest rates: Turkish president’s big promises

Erdogan declared: “As long as my soul is in this body, I will say that interest rates are the cause of inflation.”

Erdogan stated in December 2021: “As long as this soul is in this body, I will insist on saying the cause is the interest rate the effect is inflation.”

The chairman of the Republican Party, Ozgur Ozel, said: “Erdogan is there, that soul is now in that body, but he raised interest rates for the 9th time, and while Erdogan is there.”

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