Turkish President Erdoğan blasts interest lobby, credit agencies
Speaking to the members of the Turkish Union of Chambers and Commodity Exchanges (TOBB) on Friday, Turkey's President Recep Tayyip Erdoğan said his speech, "We're not interested in Turkey's enemies, who are hiding behind currency rate speculators, the interest rate lobby, or credit rating agencies. These are not our concern,"
- World
- Anadolu Agency
- Published Date: 12:00 | 11 May 2018
- Modified Date: 04:47 | 11 May 2018
Turkey's president on Friday blasted the interest rate lobby and international credit rating agencies for trying to derail the country's economy.
"We're not interested in Turkey's enemies, who are hiding behind currency rate speculators, the interest rate lobby, or credit rating agencies. These are not our concern," Recep Tayyip Erdoğan said at the Turkish Union of Chambers and Commodity Exchanges (TOBB) Conference Hall.
Erdoğan said they tried to drive Turkey into a corner while using the country's production, employment rate, and exports.
He added that some are working to paint the fluctuations in the global economy as signs of impending doom.
Erdoğan also criticized the international credit rating agency Standard & Poor's, saying it has no authority to evaluate Turkey.
On May 2 S&P downgraded Turkey's sovereign credit rating from BB/B with a stable outlook to BB-/B.
The president again touted Turkey's banner economic growth last year of 7.4 percent.
"We are aware that Turkey cannot grow only with its existing resources... Thus, we need to attract international investors to our country and encourage our investors to make new investments," Erdoğan said.
He added that Turkey should aim for double-digit economic growth.
- Trump blames his Homeland Security chief for illegal immigration
- US to assist North Korea economy if it gives up nukes, Pompeo says
- China building world’s largest weather-modifying network
- Dick Cheney says US should restart torture interrogation program, backs Haspel
- Turkish president to visit UK on May 13