Turkey forges new economic policies but lira’s plunge continues

Nearly a month after Turkish President continued a slow decline.

Measures to curb inflation, address economic crisis

Earlier this week, Justice Minister Yilmaz Tunc said Turkey is working on extending a measure limiting annual rent increases to a maximum of 25 percent.

The government introduced the measure in a bid to curb inflation in June last year, a measure set to expire next month.

“We are working (on it), it will get done,” Tunc said.

On Tuesday, Labour Minister Vedat Isikhan also announced a 34 percent increase in the country’s monthly minimum wage to 11,402 lira ($483).

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