Turkish finance minister boasts about lira hitting rock bottom

Turkish Finance Minister Nureddin Nebati has tried to comfort citizens about the worsening economy in an interesting way by saying that the lira's crash is so bad that it cannot get any worse.

Tuesday March 22 2022 03:17 pm

Duvar English

Turkish Treasury and Finance Minister Nureddin Nebati has said that the lira sunk to such a low point that it cannot depreciate any further.

“They are waiting for the dollar to hit 20, 30. Why would that happen? The Turkish lira is at its weakest point right now. There is worse for it to go, so citizens should relax,” he said on March 21.

The minister made the comments during a program held at the Şanlıurfa Archelogy Museum.

He claimed that the investment continues to pour into Turkey and will do so also in the future. “Turkey is the place that investors in the world are facing towards. I believe that the investors are coming to Turkey and will do so in a serious way,” he said.

The minister argued that confidence in the Turkish lira had increased despite the Ukraine-Rusia war, praising once again the new foreign exchange-protected lira deposit scheme.

“The [exchange rate] volatility has of course also reflections on Turkey. Look at the euro-dollar rate; as you see there, there is rise and fall. The foreign exchange-rate protected deposits will continue,” he said.