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PM Yıldırım to announce economic package on Thursday

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Amid signs of a looming economic crisis, Turkish Prime Minister Binali Yıldırım said on Monday that the government would inform the public about a new economic package on Thursday.

“We have had an Economic Coordination Board meeting. We will announce an economic package on Thursday following my visit to Russia,” Yıldırım told the media in Ankara.

The Economic Coordination Board met under Yıldırım’s direction in Ankara on Dec. 2 to determine necessary measures with regards to public finances, the banking and finance sector, the real sector and the labor market.

The Turkish lira fell to a record low of 3.60 lira to the dollar last week despite President Recep Tayyip Erdoğan’s call on people to convert their foreign currencies into lira.

Erdoğan on Sunday described Turks who convert their foreign currencies into Turkish lira as “patriots,” saying Turkey will trade with Russia, China and Iran in their own currencies and in lira.

Erdoğan also claimed that his political enemies are trying to sabotage the economy by speculating on the stock market, foreign exchange rate and interest rates after failing to overthrow his administration in July 15 with a military coup.

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