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Erdogan against exploits and monopolists.

Turkish President Recep Tayyip Erdogan speech of investigation in interest rate manipulation,  Erdogan against exploits, Erdogan against monopolists,
Turkish President Recep Tayyip Erdogan, Ankara, Turkey.

Turkish President Recep Tayyip Erdogan has confirmed on Wednesday that Turkey will move forward with production and employment through low-interest rates and balanced exchange rates while simultaneously developing its industrial capabilities.

"What we are seeking is to encourage investments, raise the level of labor employment, double production and export through low interest."

The announcement was made during his speech after chairing the government’s meeting at the Presidential Compound in Ankara, where he reiterated his determination to diminish interest rates, noting that it only makes the rich richer and the poor poorer, and adding that Turkey’s development campaign will not be stopped this time.

Erdogan's latest efforts within international affairs, tax reduction, and encouraging investments echo his beliefs that Turkey's salvation lay in investment, employment, production, export, and current account surplus, not prescriptions directed by global interests.

"We have decided to continue to apply the deduction to the rental tax, which contributes 1.7 billion lire (about $130 million) per month to our citizens until next March." The Turkish President declared, as reported by the Anadolu Agency.

Moreover, following his return from his two-day working visit from Qatar, Erdogan has announced that an investigation has been opened regarding currency exchange rate manipulation.

"The oversight body is investigating the issue of exchange rate manipulation, and we will see who is behind it," Erdogan said.

Inclining that Turkey does not suffer from a shortage of foreign exchange reserves, noting that the current reserves are $124 billion.

He stressed that Turkey would overcome attacks on its economy and that such attacks would not have a profound lasting influence, proceeding in his acts against exploitation, Erdogan remarked on the issue of increased prices of goods and products, saying, "After the 2022 budget debate is completed in parliament, we will put forward a draft resolution to resist monopolists."

He pointed out that the high prices of some products are the result of their global increase in addition to the monopoly of goods by some exploiters.

"Monopoly is forbidden in our religion, and we will not allow monopolists to control the prices of goods and products", Erdogan said, vowing for their punishments.

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