Erdoğan rejects economy fears, saying Turkey ‘stands tall’ | Ahval

Tiny Url http://tinyurl.com/y5nht6xp May 24 2019 Erdoğan rejects economy fears, saying Turkey ‘stands tall’ 2019-05-24 Turkish President Recep Tayyip Erdoğan rejected criticism concerning his government’s record on the economy, saying its policies have helped Turkey through tough times and repelled ‘attacks’. The government is continuing to achieve the economic goals it has set, Erdoğan said at a meeting of the family, labour and social services ministry in Ankara on Thursday.   ‘Even in the times of the harshest storms in the global economy, we managed to stand tall,’ he said, according to state-run Anadolu news agency. Economists and investors are calling on Erdoğan’s government to take swift measures to deal with mounting corporate debt and imbalances in the economy that helped spark a currency crisis last year. Meanwhile, Turkey’s budget deficit has widened to 68 percent of the government’s year-end target in the first four months of the year as Ankara sought to lift the country out of an economic recession. Erdoğan said Turkey’s record on the economy speaks for itself and it has been successful despite attempts to undercut Turkey’s progress. ‘Today, we continue to walk through our targets despite all economic attacks we are exposed to,’ he said. On Thursday, Treasury and Finance Minister Berat Albayrak, Erdogan’s son-in-law, said state-run banks would allocate about $5 billion in loans to manufacturers struggling with the cost of imports. The announcement follows similar help for the energy industry, tax cuts, subsidised food schemes and […]