Erdoğan: With this interest policy, my country won’t grow; credit rating agencies’ decisions regarding Turkey is an economic terror!
President Tayyip Erdoğan expressed “I object to how the policy making in interest rates are done in our country. With such interest rates, my country will not be able to grow any further. This policy is actually an exploitation tool” in regard to the latest increase in the interest rate by Central Bank.
President Tayyip Erdoğan gave a speech at an Economic Summit of The Union of Chambers and Commodity Exchanges of Turkey (TOBB). Reacting to the Credit Rating Agencies, Erdoğan expressed his frustration, saying “Did you read the reports of such and such credit rating agencies? Who are you to prepare such reports? Who are you to point out the referendum in the constitution in Turkey?” Erdoğan, asking “What is the real agenda behind the steps taken by these credit rating agencies?”, added that this is an economic terrorism and that all they focused on is how to frighten Turkey.
Here are some excerpts from Erdoğan’s speech:
Whenever Turkey encounters a national security issue, manipulations on foreign exchange and interest rates surface as a tactic to frighten the consumers. What is the real reason behind the steps taken by the credit rating agencies? They aimed at how to frighten Turkey by means of an economic terror. They will not get what they seek for. The will of the credit rating agency is not as strong as that of this nation. I also observe that some people joined to sing the same tune as the credit agencies. Those who don’t realize that we are all aboard on the same ship are supporting the others who are trying sink the ship by making a hole at the bottom of the ship or breaking off its mast. And they are supporting just because they dislike the captain of this ship. Thanks to God, our nation are well aware of all these games being played.