Kuwaiti official voices optimism over Turkish economy

By Mohamed Abdel-Ghaffar

KUWAIT CITY (AA) - Kuwaiti Deputy Foreign Minister Khaled al-Jarallah has voiced optimism regarding Turkey’s growing economy.

Speaking to reporters late Tuesday, al-Jarallah said: “Kuwait isn’t worried about its investments in Turkey; the growth of the Turkish economy is a source for optimism.”

“The situation is stable in the [Turkish] republic,” he said, voicing hope for “further economic growth and development in Turkey”.

Since the beginning of the year, the Turkish lira has lost roughly 20 percent of its value vis-à-vis the U.S. dollar.

Last week, the exchange rate hit an all-time high of 4.93 lira to the greenback, compared to 3.78 at the beginning of 2018.