Real Estate in Turkey The Turkish Lira Challenges the Fabricated Crises | Page 3

Turkish Deputy Prime Minister Mohammad Shimshak criticized the Standard & Poor's decision
on Turkey's credit reduction, pointing out that the agency's analysis was insufficient to take a
reduction decision, And that the timing of the Standard & Poor's decision announcement in this
period is surprising, especially as the Agency previously announced that it will evaluate the
classification of Turkey next August!
The Turkish economic confrontation plan
On the other hand, as part of an economic confrontation plan, the official monetary authorities
recently took several urgent preventive and corrective measures, The Turkish Economy Minister
Nihad Zibekji, gave a date for the stabilization of the exchange rate of Turkish lira against foreign
currencies and this will be by 10 June 2018, This is due to several factors, the most important of
which is that the exchange rate does not reflect the real figures in Turkey, not to mention the
large economic growth, the increase in trade and the increase in the number of tourists.
The Turkish minister stressed in his speech during a meeting with the chamber of industry in
Denzli on Friday, 25/05/2018 that the vacillation of exchange rates does not reflect the truth,
which is unacceptable, but Turkey will go beyond that, cause Turkish institutions have the right
tools with great abilities, and will do what is necessary without leaving any impact on the
economy.
These urgent policies appeared to have been fruitful early, and the exchange rate improved
immediately before the above-determined date.