Turkey’s National Security Council (NSC) convened on Nov. 25, saying it discussed the country's economic "challenges and threats."
"Challenges and threats that Turkey has faced and may face in the process of implementing investment, production, employment, and export-oriented economic policies in line with its objectives on the solid infrastructure it has built, have been evaluated," the National Security Council statement said.
MGK Bildirisi: "Türkiye'nin hedeflerine uygun şekilde ekonomi politikalarını hayata geçirme sürecinde karşılaştığı ve karşılaşabileceği sınamalar ve tehditler değerlendirilmiştir."— AA Canlı (@AACanli) November 25, 2021
The Council's statement also included the country's other concerns, especially with regards to its moves against terror groups.
"Our strong support for Iraq's struggle to clear its lands from terrorist organizations has been reaffirmed, and it has been strongly emphasized that the steps taken for combating terrorism should not lead to consequences that would disrupt social peace, especially in regions that are sensitive in terms of ethnic and sectarian balances," it said.
President Recep Tayyip Erdoğan has applied pressure on the Central Bank to pivot to an aggressive easing cycle that aims, he says, to boost exports, investment and jobs - even as inflation soars to near 20% and the currency depreciation accelerates, eating deeply into Turks' earnings.
Many economists called the rate cuts reckless while opposition politicians appealed for immediate elections.