Erdogan plans to take greater control of economy

Erdogan plans to take greater control of economy

WAAR-DUHOK:

 

Turkey’s Tayyip Erdogan said he plans to take greater control of the economy after presidential elections next month and the central bank will have to take note of what the president says and act accordingly.

 

His comments helped pushed the ailing lira TRYTOM=D3 to a fresh record low of 4.3990 against the dollar, bringing its losses this year to more than 13 percent.

In an interview with Bloomberg Television broadcast on Tuesday, Erdogan said the central bank was independent but it cannot ignore signals from the head of the executive once the switch to a presidential system is complete.

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