PM: Net money inflow exceeds $1B despite coup attempt

Published 16.08.2016 23:30

Prime Minister Binali Yıldırım said that despite speculations that funds will flow out of Turkey as a result of the failed coup attempt on July 15, the net monetary inflow surpassed $1 billion on Monday, as the reserves of the Central Bank of the Republic of Turkey (CBRT) have also risen from $120 billion to $126 billion.

Speaking at a group meeting of the Justice and Development Party (AK Party) Grand Assembly yesterday, Yıldırım said that the economy has been performing even better than before, contrary to allegations that the failed coup attempt, carried out by military officers loyal to Fethullah Gülen, the head of the Gülenist Terror Group (FETÖ), negatively affected the economy in its attempts to topple the democratically elected government of Turkey and impose martial law. Yıldırım addressed unemployment data from the month of May, released Monday by the Turkish Statistical Institute (TurkStat), saying the participation rate in Turkey's labor force reached unprecedented levels at 52.5 percent, and that 28 million citizens are currently employed.

Yıldırım said that the economy is experiencing resilient growth, and the high reserves of the CBRT in the wake of the coup attempt are evidence that both domestic and foreign investors have full confidence in the Turkish economy and the investment environment in the country.

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