Erdogan confirms Turkey is facing economic devastation

Turkish President Recep Tayyip Erdogan said on Tuesday that Turkey is facing economic sabotage and vowed to tackle attacks on the country’s economy, a day after the Supreme Council of Elections decided to re-run elections in Istanbul, which has accelerated losses of the lira.

“We may have shortcomings, but the landscape we are facing today is a complete state of sabotage,” he told his AK party members. “So what will we do? From now on, we will do what we did with the terrorists,” he said. Turkey would lay the foundations for economic reforms, Erdogan said.

Turkey announced a package of reforms in April to address its economic problems, but investors say the re-election of the Istanbul mayor on June 23 has diverted attention and resources from the required policies.

Read also: Local election in Turkey is slippery for Erdogan’s AKP

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