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Economic pressure on Turkey doomed to fail: Erdogan

Economic pressure on Turkey doomed to fail: Erdogan

President Recep Tayyip Erdogan called the attempts to exert economic pressure on Turkey, including by destabilizing its financial system, futile.

“We see a game played by those who want to unsettle our country with exchange rates, interest rates and price increases. We will continue to follow our own ‘game plan,'” the Turkish leader said in a televised address following the meeting of the Cabinet of Ministers.

The head of state expressed confidence that Turkey will emerge victorious from the current “economic liberation war,” just as it had previously overcome various “traps and hardships.”

Erdogan stressed that the country’s authorities intend to suppress attempts to excessively increase prices under the pretext of an increase in the exchange rate.

He also noted that the country’s government intends to use Turkey’s experience in managing financial crises against the backdrop of “a critical period that the world is going through.”

President Erdogan added that Turkey is focused on pursuing economic policies focused on investment, production, employment and exports, rather than “a vicious circle of high interest rates.”