Turkey announces its economic program... And the lira pays the price "immediately "

Istanbul _ Agencies

The Turkish lira fell against the dollar, Thursday, with the Turkish finance Minister announcing the government's medium-term economic program, which included reduced growth prospects.

The 6.27 lira was recorded for the dollar at 8:56 GMT, to weaken 6.2 before the plan was unveiled, compared with 6.2541 in close on Wednesday.

The demonstration presented by the Turkish finance Minister showed adjusted targets for economic data such as inflation, GDP growth and the current transaction balance.

The Turkish lira has lost about 40 percent of its value against the dollar since the beginning of the year, scoring record highs after the US administration announced a doubling of tariffs on Turkish steel and aluminium, in response to Ankara's refusal to release a US priest.

 

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