The Turkish lira devaluated a record 7% last Wednesday, the biggest one since the historic crash of 2021. Τhe newly-elected Erdogan’s government, appeared to relax stabilization measures, as part of its “pivot” to more orthodox policies. The pound has been under pressure since President Tayyip Erdogan was re-elected on May 28.

We welcome economist Mertkan Hamit, to discuss the current financial situation and the impacts on Turkish Cypriot community.


1.The reelection of president Erdogan in Turkey seems to initiate a negative rally on Turkish lira equivalent, on US dollar and Euro. What is your estimation?

2.Turkish economy experiences hard time, especially the last 12 months, after Erdogan’s unorthodox economy practices. What measures must be taken in order to overturn investor’s suspiciousness and reluctances?

3.How can you describe the financial situation of the Turkish Cypriots?

Vouli TV