“Turkey’s new finance minister knows that his mission will not be easy. “When appointed by President Erdogan last week, Nureddin Nebati wrote on Twitter, ‘Allah make it easy, do not make it difficult!'” ».
The German website notes: “President Erdogan expects miracles from the new minister, who should reduce interest rates by revitalizing the economy with cheap money and at the same time strengthen the Turkish pound and curb inflation.
My Lord, make it easy, do not make it difficult, my Lord, make it good. Give us truth in our work, make us successful.
Mr. May my Lord grant me the ability to carry out the duty of the Ministry of Treasury and Finance, which our President deems worthy of me, and to be worthy of the trust he has shown in us.
– Dr.Nureddin NEBATİ???????? (@NureddinNebati) December 1, 2021
So far nothing shows that the so-called “Erdonomics” work. Vegetable prices have doubled as producers spend more on electricity, fuel and imported fertilizers. Inflation mainly affects lower incomes. Many immediately exchange their wages for dollars or euros, unwittingly pushing for pressure on the Turkish pound. At the same time, concerns are growing about the stability of the financial system in Turkey. Many companies have difficulty servicing foreign currency loans. Banks are threatened with deferral of payments.
President Erdogan blames “money barons”, “speculators” and “saboteurs” for the situation. He tries to tell his story to his audience by claiming that in Germany people get food with a ticket. He responds to criticism of his policy as always: with repression. Dozens of protesters against his policy were arrested. “The Turkish president claims that his country is in a ‘war for its financial independence’ and seems to be preparing the Turks for even worse days.”
DW / Stefanos Georgakopoulos
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