Aug 09 2018

No use fighting the markets, politician tells Turkish government

The Turkish economy has grown during the last 16 years of Justice and Development Party (AKP) rule by abiding by the rules of the market economy and there is no point in fighting with markets now unless Turkey has developed an alternative strategy, former AKP deputy and presidential adviser Aydın Ünal wrote in pro-government daily Yeni Şafak on Thursday.

Ünal said the AKP’s success was due to boosting growth, despite attacks from inside and outside the country, and by ensuring market confidence in its economic management. 

But Turkey has now entered another gloomy period, Ünal said, with new attacks targeting the country, including from the United States, which refuses to extradite Fethullah Gülen, accused of ordering the 2016 coup attempt, but demands the release of pastor Andrew Brunson, who is charged with taking part in the coup attempt through links to the Gülen movement.

“However, when the price of potatoes increase as a result, we know that citizens will not hear words like “operation”, “attack”, or “assault”, and will wish a “solution through politics”,” Ünal said. 

“We should admit that during the terms of the AKP governments, the economy grew in accordance with the principles of those damned markets,” said Ünal. “The stability of the economy was protected during our most difficult times because we gave confidence to those damned markets”.

Over the last 16 years, Turkey has neither developed alternatives to those markets, nor it has it discovered gold mines, or unlimited oil reserves, 

“Then the equation is quite simple. Fighting, bickering, scolding with those damned markets, in which you have played according to its principles and have grown in accordance with those principles, without developing alternatives, will make you lose,” he said.