Denktaş Discusses Devaluation of Lira

Finance Minister Serdar Denktaş met with Turkish Finance Minister Naci Naci Ağbal in Ankara on Thursday.

Prior to their meeting, Denktaş said that they would discuss measures to be taken for public finance because of the devaluation of the Turkish lira against foreign currencies. This situation is temporary and the problem will be overcome, he asserted. Denktaş noted that investments in the TRNC had increased, and called on Turkish investors to to look at Cyprus differently.

Turkish Finance Minister Naci Ağbal argued that short-term interventions are not very decisive on the economy and added that in the global finance markets or in geopolitical developments, some activities might go beyond the ordinary from time to time. He said that the situation in the financial markets is temporary and added that contradictory statements were being made on the issue. Minister Ağbal said that some of these statements support medium-term and long-term globalisation and other statements are made for geopolitical and tactical reasons. Arguing that this will not last for long, Ağbal said that the growth of the Turkish economy was 7.4% last year and that developments in the fields of investments, production, exports and employment have been positive during the first quarter of this year as well. The mechanism of the real economy is working and things are going well, the minister said, adding that economy’s medium-term and long-term course is more important than temporary developments.

Star Kibris

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