Cabinet discussed what can be done about the increase in foreign exchange rates

Council of Ministers convened under the presidency of Prime Minister Ömer Kalyoncu yesterday. Prime Minister Kalyoncu made a statement to the press before the meeting and said that although they cannot be able to do anything against the increase in foreign currency rates they will discuss what can be done for that. Noting that the increase in foreign currency rates is related with the changes in the world conjuncture and the political instability in Turkey, Kalyoncu said: “We are not in a position to change this”. Indicating that there are some arguments in the public as “how is it possible that the cost of living is determined to be lower while the foreign currency rates are increasing” Kalyoncu said “the increase in the foreign currency rates is not connected with us, determination of the minimum wage and the increase in foreign currency rates came across at the same time. We will discuss what can be done however we do not have much to do. The main problem is borrowing with the foreign currency; citizens are buying houses or cars with foreign currency”.