Turkey reinforces monetary tightening with fiscal caution

turkey

The Turkish government will attempt to stabilise the economy through a more prudent fiscal policy, the government said on September 20.

A new economic plan for 2019–21, unveiled by Berat Albayrak, the finance minister and son-in-law of president Recep Tayyip Erdoğan, aims to shore up public finances in order to attract international investment. However, the government acknowledges inflation will remain well above target over the coming years.

The lira is one of the worst-performing currencies

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