Turkey to not give up fiscal discipline

By Sorwar Alam and Sibel Ugurlu

ANKARA (AA) - Turkey would never give up its fiscal discipline, which is one of the most important anchors of the national economy, said a statement.

The statement was issued by Turkish presidency after an economy coordination meeting led by President Recep Tayyip Erdogan, several ministers and senior bureaucrats at the presidential complex on Wednesday.

It said that necessary measures would be taken "to reduce interest and exchange rate pressures and to combat inflation more effectively".

On Tuesday, the U.S. dollar/Turkish lira rate saw its historic high -- climbing to 4.3017 -- while the average USD/TRY rate was 3.65 last year and 3.02 in 2016.

The statement also mentioned that Turkey "will continue on its way with growth-based economic policies in the upcoming period".

Turkey's economy grew 7.4 percent in 2017, compared with the previous year. Turkey became the fastest growing economy among G20 and OECD countries in 2017.

The meeting also decided to take steps to attract more international investors to Turkey.

“Steps will be taken to increase the attractiveness of our country for international investment,” read the statement.