Turkish Vice President Fuat Oktay sought to combat criticism of the government’s economic policies in parliament on Tuesday, saying that the measures were designed to guarantee the country’s economic independence.
Turkey will continue its resolute march towards prosperity, and the rewards will be shared throughout society, Oktay said in comments during discussions on the 2022 budget on Tuesday, the state-run Anadolu news agency reported.
The Turkish lira has slumped to successive record lows against the dollar this year, losing almost 50 percent of its value, after President Recep Tayyip Erdoğan sacked the governor of the central bank and ordered his successor to cut interest rates despite surging inflation. The lira lost about 30 percent of its value in November alone.
Turkey’s economic programme is already beginning to bear fruits, Oktay said, pointing to a current account surplus of $3.2 billion in March, the highest in three years. Previously, such surpluses had preceded economic crises, but this time around it is the government’s goal to render the surpluses sustainable and permanent, he said.
The authorities will overcome manipulation of the economy and bury such efforts in history, just as it brought terrorism to an end and defeated tutelage, he said. He pointed to the government’s success in building an independent and successful defence industry, silencing those who had said the goal was unachievable.
Government policies mean that the investment costs of businesses will be reduced and contribute to healthy economic growth and prosperity for all citizens, Oktay said.
The government will support manufacturers with incentives that underpin innovation and domestic design and production, he said, adding that it will introduce an additional employment support package quickly.
Ahval