BREAKING NEWS

Who are the 10 candidates that remain in the race to win the "Golden Ball" (List)

Who are the 10 candidates that remain in the race to win the "Golden
x
BREAKING NEWS

A former deputy, Pashko Ujka, was shot in the back

A former deputy, Pashko Ujka, was shot in the back
x
BREAKING NEWS

Pashko Ujka in serious condition, his family members are asking for blood

Pashko Ujka in serious condition, his family members are asking for blood
x
BREAKING NEWS

Spartak Ngjela speaks with names, warns of "bomb" arrests at very high levels of Albanian politics: The blow that Sali Berisha will receive soon ...

Spartak Ngjela speaks with names, warns of "bomb" arrests at very high
x
BREAKING NEWS

Fatos Klosi: Meta is following Berisha's game due to bargaining, they have nothing to lose and they want the leader of the opposition, after December 11 there is a risk of a clash

Fatos Klosi: Meta is following Berisha's game due to bargaining, they have
x
BREAKING NEWS

Kreshnik Spahiu publishes the photo of Lulzim Basha and makes the unexpected comment: In the cemetery with ...

Kreshnik Spahiu publishes the photo of Lulzim Basha and makes the unexpected
x
BREAKING NEWS

Fatos Tarifa detonates the "bomb": Ilir Meta introduced corruption, 40 percent of the budget went to his pocket, he transported the money in bags

Fatos Tarifa detonates the "bomb": Ilir Meta introduced corruption, 40
x
BREAKING NEWS

Prime Minister Rama congratulates November 29 and publishes video with fantastic views from the completion of the giant project: It will become an important connecting corridor East-West

Prime Minister Rama congratulates November 29 and publishes video with fantastic
x

Bota

Erdogan warns of "economic war" after the fall of the Turkish lira

Erdogan warns of "economic war" after the fall of the Turkish lira

The Turkish lira fell to a record low on Tuesday as Turkish President Recep Tayyip Erdogan stepped up his support for lowering interest rates, warning the country was in a "war for economic independence".

The Turkish currency fell sharply as 13 lira is currently exchanged for a dollar, a 15 per cent drop.

Turkey is facing its worst currency crisis since August 2018, when the value of the pound reached historic lows during a dispute with then-US President Donald Trump.

The Turkish Central Bank on Thursday came under pressure from President Erdogan and cut its rate from 16 to 15 percent, despite rising inflation and rapid currency devaluation.

Erdogan, an outspoken opponent of high interest rates, has always built his popularity on a reputation for strong economic growth and improving household incomes across the country.

He is known for his strong belief that high interest rates cause inflation instead of helping to lower it.

The Turkish leader was tough and defended current policies in a speech to the nation after a cabinet meeting Monday.

"We see the game's the game in terms of currency, interest and price increases… and we show our willingness to continue with our game plan," he said.

"We will emerge victorious from this war of economic independence with the help of God and our people."

The lira has lost more than 40 percent of its value against the dollar since the beginning of the year, and the annual inflation rate has reached nearly 20 percent - quadrupling the Turkish government's target./REL