IFP Exclusive

“Drop in Lira’s Value Due to Turkish Economy’s Dependence on Foreign Assets”

A senior Iranian official says the Turkish economy's dependence on foreign capital is to blame for a drop in the value of its currency.

Mohsen Rezaee, the secretary of Iran’s Expediency Council, made the comment on his Instagram page.

“The Turkish currency has considerably dropped in value. This is while Turkey is neither under sanctions, nor being threatened, and it is even a NATO member,” he wrote on Monday.

“The sudden decrease in the value of the Turkish Lira showed that making economy dependent on foreign assets could wrest control of a country’s economy from its statesmen and pose risks,” he noted.

He underlined it is not only Iran that needs to strengthen its economy.

Rather, as he added, all countries in the Middle East region need to adopt policies to make their economies stronger.

Turkey is trying desperately to halt a collapse in its currency that could trigger an economic crisis just as the country prepares to vote in an election.

Turkish inflation reached 10.85 percent and the economy has been plagued by fears of overheating despite impressive growth.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

President Pezeshkian emphasizes need for improved foreign relations

In a consultative meeting on foreign policy, Iranian President Masoud Pezeshkian stressed that to achieve…

3 hours ago

Qatar’s Emir orders cabinet reshuffle

Qatar's Emir Sheikh Tamim bin Hamad Al Thani has appointed six new ministers in a…

3 hours ago

Netanyahu plans to push for West Bank annexation when Trump takes office

Israeli Prime Minister Benjamin Netanyahu plans to push for annexing the occupied West Bank when…

3 hours ago

Aid groups say Israel missed US deadline to enhance humanitarian help for Gaza

Israel has failed to meet United States demands to allow greater humanitarian access to the…

3 hours ago

Putin hopes to recapture lost territory in Kursk before Trump’s inauguration: Report

NATO allies believe that Russian President Vladimir Putin is aiming to recapture territory lost to…

8 hours ago

Iran does not rule out direct talks with US, advises Trump to avoid past mistakes

The Iranian government spokeswoman has not ruled out direct Iran-US talks under the new US…

10 hours ago