Zeybekci finds negative picture of economy ‘cynical'

Economy Minister Nihat Zeybekci issued new announcements about exchange and interest rates on Tuesday. "It is obvious the real intention of those who say that they have found a solution to exchange rate mobility, which is mostly stemming from the global developments by increasing interest rates. Increases in exchange and interest rates don't reflect the truths about Turkey's economic situation," Zeybekci emphasized. He said that although a recovery is observed in almost all economic data, drawing a pessimistic picture for the economy is intentional manipulation.

In addition to underscoring that the ministry is focused on the national will, which is going to manifest during the Nov. 1 elections, Zeybekci stressed: "This situation will provide a relative relief in the upcoming days. Since investors are going to wait for the election results, some investments might be postponed. Still, we will see growth at more than 3 percent this year."

This is not the first time that Zeybekci has issued calming statements regarding Turkey's economic state. After the dollar-Turkish lira parity hit the 3.00 mark, Zeybekci assured that Turkey would not go through a crisis. He said: "There is no ground for the speculative jumps or fluctuations of exchange rates and negative atmosphere in Turkey, and if someone claims otherwise, they have to explain to me on what grounds negative incidents are expected to happen in Turkey."