Bilge Yılmaz, a candidate for the Treasury Minister, from the IYI Party, explained the situation in the Turkish economy in his latest statement on his social media account.
Saying that “Central Bank reserves are about to run out” and stating that Turkey runs a current account deficit of 8-9 billion dollars every month, Yılmaz brought the word to Erdoğan. Expressing what could happen if Erdoğan wins the 28 May elections, Yılmaz included the following lines in his post:
“The Central Bank reserves are running out, we run a current account deficit of 8-9 billion dollars every month, companies demand dollars to continue their production/trade, and citizens demand dollars because they do not trust the system. There is an important question to be answered here: If Erdogan is elected this Sunday, after May 29. Where and how will the markets find the dollar they need? Of course, they won’t be able to find it and capital controls will expand. Those who impose a funny foreign exchange limit of 5 thousand dollars on companies today may ban it completely next week. The consequences of this will be very severe for all of us.
-The economy will stop
-Companies will go bankrupt
-There will be a black market
– Unemployment will increase
We still have a chance to survive the destruction of the economy with the least possible damage. Let’s not waste it”
The Central Bank reserves are running out, we run a current account deficit of 8-9 billion dollars every month, companies demand dollars to continue their production/trade, and citizens do not trust the system.
There is an important question to be answered here: If Erdogan is elected this Sunday, 29…
— Bilge Yilmaz (@ProfBilgeYilmaz) May 23, 2023