Turkey will win the economic war, says FinMin

Speaking at a SME Support Credit meeting, Turkey’s Minister of Treasury and Finance Berat Albayrak said, “We will win this economic war that was initiated against Turkey in the end. Today, we have given a strong message of unity to the world with the image we have portrayed here.”

“We know very well what steps we need to take. In this process, no one should doubt the strong Turkish economy we desire with the right policies and practices. We have launched a major process of change in the economy for this,” he added.

Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Süleyman Soylu and Justice Minister Abdulhamit Gül for not releasing American pastor Andrew Brunson, causing the Turkish lira to depreciate, which President Erdoğan dubbed as an “economic war.”

The sanctions were followed by U.S President Donald Trump increasing tariffs on Turkish imports, which Turkey responded to by imposing customs duties on several U.S.-origin products, including alcohol and tobacco products and cars.