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Erdogan appoints a new minister of treasury and finance in an attempt to stop the decline of the lira

2021-12-02T19:18:45.526Z


Ankara, SANA- The President of the Turkish regime, Recep Tayyip Erdogan, announced today the appointment of Nureddin Nebti as Minister of Treasury and Finance


Ankara-Sana

The President of the Turkish regime, Recep Tayyip Erdogan, announced today the appointment of Nureddin Nebti as Minister of Treasury and Finance, after the resignation of Lutfi Alwan, due to the deterioration of the national currency and the sharp rise in inflation rates.

The Turkish newspaper, Zaman, stated that this appointment comes in the wake of the lira's tumbling 27 percent last month alone, as the Turkish currency fell to historical levels due to Erdogan's failed interest rate cut policy.

The head of the Turkish regime accepted Alwan's resignation from the position of Minister of Treasury and Finance and the appointment of his deputy, Nureddin Nebti, as his successor, in light of Erdogan's pursuing a fiscal policy based on interest cuts.

Alwan's resignation was not shocking, as local circles have been anticipating his departure since the beginning of last November due to his apparent lack of support for Erdogan's policies.

The International Monetary Fund had earlier confirmed the seriousness of Turkey's financial conditions due to the accumulation of errors in the management of the economic file.

Experts point out that the IMF's warnings have so far not moved Erdogan.

Source: sena

All business articles on 2021-12-02

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