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Tuesday, June 6, 2023
NewsReuters: Erdogan's party economically divided

Reuters: Erdogan’s party economically divided


According to the sources, people who do not hold government positions from the ruling Justice and Development Party have held rallies in recent weeks to discuss how the party can adopt a new policy of gradually increasing rates. interest rate and adopt a targeted lending program.

The sources added that Erdogan did not participate directly in the talks, which were attended by some party members who do not hold government positions but have held leadership positions in the past.

On the other hand, there are government officials and individuals who openly declare their desire to stick to the current program of export promotion and stimulate economic growth through lower interest rates and tightly controlled foreign exchange, credit and debt.

Given Erdogan’s lead in the first round of elections, many stakes are at stake for Turkey, which has a large emerging economy and is wracked by a cost-of-living crisis and a series of currency devaluations.

With declining foreign exchange reserves, some analysts believe that Turkey may face another economic crisis this year at the earliest, which will cause inflation to rise again and affect its balance of payments unless the government does change course.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on


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