Turkey's economic administration hopes that the fall in world oil prices will continue. The continuation of this trend may make serious positive contributions to economic equilibriums, starting from the decreasing of the high current account deficit figures.
Despite the fall in world commodity prices, primarily oil, in Turkey inflation rates cannot be pulled down to the desired level.
From the statements of Prime Minister Ahmet Davutoğlu and Cabinet ministers, we understand that special significance is being attached to maintaining economic stability until the elections scheduled for June.
The Turkish Central Bank will not dare, one assumes, to opt for a new interest rate reduction because of the uncertainty in the global financial environment. For this reason, market experts do not expect any interest rate changes in the Monetary Policy Committee (PPK) meeting to be held tomorrow.
Turkey is going through difficult times, said Finance Minister Mehmet Şimek, adding the Islamic State of Iraq and the Levant (ISIL) has hurt Turkey’s trade routes and export market for some time.
A long-awaited decision on the markets by the international rating agency Fitch was made public on Friday
While the American dollar continues to gain value against all currencies, we need to wait until the weekend to see its course more clearly, particularly against the Turkish Lira.
Deputy Prime Minister Ali Babacan said expansionary or tightening policies of central banks do not necessarily provide a permanent upward or downward course for a country, however, “What is really important is the country’s own domestic structural reforms.”
While the economy’s fragility is increasing, the statements from politicians are contributing to this existing fragility.
