Turkish Finance Ministry says interest rate hike important for de-dollarization of economy

The decision taken on Thursday by the Central Bank of Türkiye to raise the key interest rate to 15% is important for ensuring the stability of the national currency - the Turkish lira - and becomes a factor for further de-dollarization of the country's economy, the Turkish of Finance Minister Mehmet Simsek said, Report informs via TASS.

"The decision of the Central Bank is an important factor in ensuring the stability and reliability of our currency, as well as Türkiye getting rid of such a problem as dollarization," he wrote on Twitter.

Simsek assured that the economic policy of the new Turkish government will be focused on protecting the interests of the citizens of the 85-million-strong country and will be based on "three main philosophical concepts: stability, trust and sustainability."