Skip to main content

US leniency on S-400 offers Turkey chance to repair economy

The US president's reluctance to impose sanctions following Turkey’s purchase of the Russian S-400 missile system has created a window of opportunity for officials to restructure the nation’s ailing economy.
Russian servicemen sit in the cabins of S-400 missile air defence systems in Tverskaya Street before a rehearsal for the Victory Day parade, which marks the anniversary of the victory over Nazi Germany in World War Two, in central Moscow, Russia April 29, 2019. REUTERS/Tatyana Makeyeva - RC1E849FD530

In his first press conference as the new governor of the Central Bank of the Republic of Turkey, Murat Uysal reduced the nation’s inflation forecast and said he had “considerable” room to implement more interest rate cuts in the coming months.

Uysal was appointed by President Recep Tayyip Erdogan earlier this month after his predecessor was dismissed for resisting aggressive interest rate cuts. During his speech on Wednesday, he echoed comments by Turkey’s Finance Minister Berat Albayrak the previous day that state leaders would seek to implement financial policies to revive Turkey’s long-ailing economy.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.