Erdogan Proposes New Plan for Turkish Economy

“Location on this matter is clear: Interest rates are trigger and inflation is the result. We will not make concessions, we will reduce rates,” told reporters after an official trip to Italy.

Erdogan has criticised the fact that some banks have been charged with 20 per cent interest, warning that such an expensive loan “decides investments and job creation. ”

“How can employment conditions improve under these circumstances? There will be no work if there is no investment,” he said, reports “Hurriyet”, Periscopi broadcast.

The last “a bank has posted a 6 billion lira profit. Are we working for the interest rate lobby? Consumers receiving loans from banks are suffering,” added Erdogan.

Erdogan said he has recently held meetings with government officials to discuss interest rates, adding that there will be another <x0 meeting when officials complete their studies. ”/Periscopi/