Naci Ağbal

Turkish President Recep Tayyip Erdoğan is meeting Treasury and Finance Minister Nureddin Nebati, Central Bank Chief Şahap Kavcıoğlu and the CEOs of state banks today in Istanbul.

The meeting is taking place at the Vahdettin Pavilion in Istanbul.

Turkey,

A Turkish opposition leader on March 31 criticized the president over frequent changes in the Central Bank leadership.

Turkish Central Bank Governor Naci Ağbal was dismissed and replaced with former MP professor Şahap Kavcıoğlu, according to a new presidential decree published in the official gazette early on March 20. 

Ağbal was appointed governor in November 2020 after former governor Murat Uysal was dismissed.

Turkey has quite a resilient economy and it tends to rapidly recover from the shocks, a leading economist at the European Bank for Reconstruction and Development told Anadolu Agency on March 16. 

The Turkish Central Bank is focusing on ensuring permanent price stability while implementing a steady monetary policy, the bank's Governor Naci Ağbal said on March 5. 

"We will continue to take firm steps towards achieving price stability through a confidence-oriented monetary policy in the upcoming period," Ağbal wrote on the bank's blog.

With the stabilization of capital inflows and reversal of dollarization trend in deposit/participation funds, the Turkish Central Bank will increase its reserves through auctions, the governor said on Feb. 9. 

"When the conditions are mature enough, we will share our plan for this with the public in an open and transparent manner," Naci Ağbal told a meeting with economists.

Turkish Central Bank Gov. Naci Ağbal said the economy has lost some pace recently but signs that Turks are shifting toward lira assets suggests a reversal in dollarization may come.

"We are working day and night to achieve lasting price stability," Ağbal told Reuters in an interview.

"We know we are in a difficult period."

Foreign investors who remained aloof from Turkey for a few years are edging back in, drawn by a promise of some of the biggest returns in emerging markets and a pledge of economic and legal reforms, according to money managers.

Turkey has the potential to attract more than 75 million foreign tourists and generate at least $65 billion in tourism revenues, Naci Ağbal, the head of Turkey's Strategy and Budget Directorate, has said.

A draft budget for 2020 has been prepared in line with the 5 percent economic growth and 8.5 percent inflation targets set out in the government's New Economy Program, Naci Ağbal, the head of the Strategy and Budget Directorate, has said.