Exchange rate fluctuations not in line with economic realities: Vice president

ANKARA

Deputy President Fuat Oktay has defined the fluctuations in the exchange rate as “manipulation” and accused some circles of acting against Turkey.

“These manipulation attempts have an increasing cost not only on us but also on those who direct it,” Oktay said, speaking at the General Assembly of the parliament, where he presented the 2022 budget.

Such attempts by those who want to bring our country to its knees through the economy will remain futile, he added.

Stating that the manipulative attacks in the exchange rate are not in line with the realities of the economy, Oktay said, “We are aware of the increasing economic fragilities in our country due to global effects. We are the ones who will overcome this.”

“We have seen beforehand that the transforming global supply chain conditions, the advantage of our country’s geographical location and flexible production opportunities provide an important opportunity for Turkey to become one of the new production centers of the global economy. We have made the most of these opportunities, and now we are reaping the consequences,” he stated.

In the upcoming period, Turkey will manage possible risks in an “effective and dynamic way by not giving up on our fiscal discipline and growth targets,” he added.

The budget talks started on Dec. 5 and will continue until Dec. 17. In his presentation speech at the General Assembly, Oktay stated that the 2022 budget will strengthen the “green development revolution.”