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Erdogan: Turkey hands over hundreds of homes and shops to earthquake victims





The country’s president announced on November 22 that hundreds of homes and shops built for victims of the major earthquake that hit Turkey’s Aegean Sea last year will be handed over to their new owners on Friday.


“We have completed the construction of a total of 741 independent sections, including 596 houses and 145 shops,” Recep Tayyip Erdogan said after a cabinet meeting in the capital, Ankara, adding that they were built for earthquake-affected residents of Izmir. Initial investment of 750 million Turkish liras (about 66 million dollars).

“We built houses in Izmir as quickly as we did in other disaster-stricken regions. We carried out the greatest urban transformation and earthquakes in Izmir’s history,” Erdogan said at the presidential complex, where the cabinet met.

Last November, a 6.6-magnitude earthquake hit Izmir province, killing 115 people and injuring more than 1,000.

Erdogan added that the remaining 795 homes and 157 shops will be completed as soon as possible and handed over to earthquake victims in the province.


Escaping the “evil” high interest cycle

Regarding the country’s economy, Erdogan said the government was “determined to do the right thing” for Turkey through investment, production, employment and export-oriented economic policy, rather than a “vicious circle” of high interest and low exchange rates.

He pointed out that “the rise in prices due to the rise in exchange rates does not directly affect investment, production or employment. Competition in the exchange rate leads to an increase in investment, production and employment.”

As a country with knowledge and experience in managing financial crises, he said, Turkey decisively seizes the opportunities that have emerged in the current critical times the world is facing.

He also warned against opportunists raising prices excessively, using high exchange rates as an excuse.

“With God’s help and our nation’s eyes, we will emerge victorious from this war of economic liberation, just as we got our country out of all these traps and calamities,” Erdogan added.

He stressed that the recently discovered natural gas reserves in the Black Sea boost hopes for a solution to the Turkish energy issue, which is the most important foreign currency spending.

He said that the current account balance began to show a surplus with an increase in employment by 2.28 million people in the third quarter of this year.






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