ANKARA: Turkish President Recep Tayyip Erdogan on Monday insisted he was not instructing capital flows to be limited a day after he said moving assets abroad was an act of treason. ?There is no request from me or instruction to limit capital movements,? Erdogan said. ?Turkey is a free market economy,? he said during a speech in Ankara. ?Since 1989, everyone has had the right to take money abroad if they want. ?Without a doubt, it continues as before.? Erdogan?s comments on Sunday raised fears over restrictions on capital flows after he called on the government not to allow businessmen to place their assets overseas on Sunday and said such moves were ?acts of treason?. He did not provide any names. Turkish Deputy Prime Minister Bekir Bozdag later told reporters that Turks and foreign investors ?had the right? to invest wherever, whether inside Turkey or abroad. But Erdogan urged businessmen and women to show a ?domestic, national? stance while the country was ?coming under attack from elsewhere?. ?If in this period, they do not stake a claim to the country?s economy, when will they do so? I?m sorry but business people who do not trust their country... as it goes towards possible double-digit GDP growth in the third quarter are not patriotic.? He added his previous comments were critical of the businessmen and women showing a lack of trust in Turkey and taking their assets abroad.
12-05-2017, 04:56 AM
Erdogan says not calling for limited capital flows
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