In his speech at the AKP group meeting, President Erdogan criticized the economic policies of the "15-year" AKP government. While criticizing "high interest rates", Erdogan, who has been banking in the "most profitable" periods of his history as a result of the AKP government's economic policies, has been "troubled" by the MTV increase from the Medium Term Program announced by the government.
"Small shakes" apart from Erdogan who said they keep the economy in control, "the decline in interest rates is still not the point we want. Many misfortunes await us if we do not achieve the decline in interest rates. Can the investor invest in the country where the market interest rate is 20%? After that, we are faced with the curse. We face many miserable families as well. We are only interested in interest-minded minds, if we take steps with the interests of the loyalists."
"I'VE MADE IT" DOES NOT FIT AT ALL
Referring to the increase in MTV, which is a big reaction to public opinion, President Erdoğan mentioned that "We can do this, provided that we calculate the burden correctly and do not explain it at first, and convince ourselves where to use the obtained source. Otherwise, there is no place in economic politics as it is in every way to the understanding of 'I did it'.
"WE WILL FACE POOR FAMILIES"
Pointing out that Turkey has the power to move towards its targets while struggling with the crises in the region, Erdogan said that the credit flow was accelerated by applications such as the Credit Guarantee Fund and continued as follows: "The decline in interest rates is still not at the point we want to say. If we can not achieve the decline in interest rates, if we do not achieve this, many of you are waiting for us. We need to take care of this once. At the moment we are in a period where the market interest rates are 20 percent. Investor in a country where the market interest rate is 20%, can invest, can employment increase, does not increase.
After that, we are faced with the curse. We face many miserable families. We need to overcome this once. We can not step in with interest minds, with the attitudes of interest lobbies, and if we step with them, we will only raise them. "" Look, we can not afford to fall in inflation. Why? Due to high interest "Erdogan uses his expressions," This is my testimony. High interest will never pull down inflation. It is always the most important obstacle in front of him. If interest falls, inflation decreases. If the interest rate is high, it will be high. But what is the understanding now? It is inversely proportional. But we still can not tell. We need to take care of this once."
INTEREST HOLDERS HAPPY
The net profit of the banking sector, which was 26 billion TL in 2015, reached 44 billion TL and 37.5 billion TL in 2016.
In the first half of the year, the banking sector reached its "first-half net profit" of "all time high" with 25.4 billion pounds. In the first half of this year, the net interest income of the banks increased to 55.2 billion liras. The figure of 57.5 billion TL, which is allocated to interest payments in 2017 from the Turkish budget, also draws attention.