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Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, announced his resignation as Turkish finance minister on Sunday, citing health reasons, Reuters reports, taken over by Agerpres.
The resignation, which took some analysts and parliamentarians by surprise, comes at a time when the Turkish lira has depreciated by 30 percent this year, hitting a low in recent years. Following the announcement of his resignation, the Turkish currency appreciated by 1.5% against the US dollar.
It is already the second surprise this weekend in Turkey’s financial sector, after the central bank governor was fired on Saturday.
Like many other economies, the Turkish economy is facing a recession caused by the coronavirus epidemic.
The resignation of the Minister of Finance must be approved by the President.
The president’s son-in-law was appointed Minister of Energy in 2015 and switched to finance after Erdogan’s re-election in 2018. During his tenure, the Turkish economy suffered two declines, inflation of ten percent and one. high unemployment. The Turkish lira is currently less than half of its value two and a half years ago.
Publisher: Luana Pavaluca
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