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Erdoğan vows to ‘continue to pressure banks over interest’ in Turkey

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The government will continue to pressure banks in Turkey over high interest rates, President Recep Tayyip Erdoğan has vowed once again.

“We will certainly pressure [them]. We cannot [tolerate] credit interest rates reaching up to 15, 16, 18 percent. Together with our prime minister we will talk to the relevant ministers. We will say, ‘You’re going to lower [the credit interest rate].’ There is a need to earn from higher demand rather than cornering investors with high profit rates,” Erdoğan told reporters while returning from a recent trip to Kazakhstan.

Referring to his pledge for a “180-day program” on government work, the president said preparations are still underway.

“All of our ministers are conveying what they have prepared to our prime minister. Then our prime minister will complete his study and present it to me. After I complete my work, God willing, we will take steps,” said........

© Hürriyet Daily News