During the currency crisis, Turkey’s Finance Minister met with businesspeople

Ankara 12 December : .

During the current currency crisis, Nureddin Nebati, Turkeys new Treasury and Finance Minister met with several businesspeopleAccording to Xinhua, the meeting was secretly held in Istanbul and saw some general managers and representatives from both public and private banks.

According to press reports, Nebati gave briefings to businesspeople about how to improve investment and production in order to address the current economic crisis.According to NTV, the new minister also took into consideration the needs of business people.

Since the start of the year, the Turkish liras value has dropped more than 45% against the US Dollar.The losses have increased in the past three months due to consecutive rate cuts by the central bank.

One dollar was traded at 13.88 liras on Saturday.The depreciation of the lira has led to price hikes of almost every item including the basic necessities, with the annual inflation rate hitting as high as 21.31 per cent in November.Last week, President Recep Tayyip Erdogan appointed Nebati as the Treasury and Finance Minister after his predecessor Lutfi Elvan resigned amid a sharp plunge of the currency.

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