Davutoglu: Erdogan’s policy transfers wealth from the treasury to the powerful

The head of the opposition Turkish Future Party, Ahmet Davutoglu, denounced what he called “the stubborn policy of ignorant people in economic affairs that is at the root of the currency crisis. in Turkey”.

Davutoglu Siham criticized Turkish President Recep Tayyip Erdogan, saying that “Erdogan’s policy Transferring wealth from the treasury to the powerful at the expense of the weak.

He described Erdogan’s government as “trying to cover up the economic catastrophe by exploiting our religious values”, addressing the ruling party, saying, “What you are doing in economic measures is not a gift but an abuse of religion “.

Operators’ estimates showed that state intervention in the foreign exchange market cost the central bank more than $ 8 billion last week to bail out the lira, which plummeted to a low rate against the dollar of $ 18. 4 lire per dollar, after months of decline due to the sharp cut in interest rates and fears of a sharp rise in the inflation exchange rate.

After chronic decline, the lira reversed its trend becoming its strongest week ever, as it rose by more than 50% after estimated state market interventions. in billions of dollars and a government commitment to cover foreign exchange losses on some deposits.

Read More About: Business News