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Turkey’s uncertainty to end after Nov. 1 election: deputy PM

Cevdet Yilmaz told Reuters the country’s central bank would continue to fulfil its duty in the face of excessive lira volatility

Published: Updated:

Turkey’s new deputy prime minister in charge of the economy said uncertainty will end after the election on November 1, adding that the economy may grow three percent this year, with higher growth expected in 2016.

Cevdet Yilmaz told Reuters the country’s central bank would continue to fulfil its duty in the face of excessive lira volatility.

The Turkish lira has hit record lows in recent months, hammered by domestic political uncertainty and security risk arising from renewed conflict with Kurdish militants, both exacerbating a broader emerging market sell-off.

READ MORE: Turkish lira tumbles against dollar to fresh record lows