Turkiye pursuing consistent economic policy: President

ISTANBUL

Turkiye's president on Friday spoke in support of the country's economic policy program, underlining that it is consistent, scientific, and suitable given the current realities of the world.

Speaking at an event organized by Turkiye's Foreign Economic Relations Board (DEIK), President Recep Tayyip Erdogan stressed that the country is looking for an economic solution that promotes production, employment, and exports rather than the imposition of linked interest and inflation.

Despite the escalating global economic crisis, Turkiye is aware of the opportunities to use its potential more effectively, efficiently, and widely, Erdogan underlined.

On the production side, the country is in a favorable position in terms of employment and exports, with the current foreign exchange rates at a level that protects competitiveness, even if they affect indicators negatively, he said.

Erdogan also noted that the reason for the deterioration in Turkiye's current account deficit and budget balances were expenditures on energy, which increased five to ten-fold in many fields.

All countries in the world are facing similar problems, he added, including those that normally have current account surpluses, from South Korea to Japan and the EU.

"Hopefully, we will quickly compensate for the decline in the level of welfare by taking measures to curb the cost of living, which negatively affects the daily lives of our people, and increasing the incomes of all segments of society," he said.