Erdoğan: Depositing money from the Gulf has relieved the TCMB

President Erdoğan stated that the money deposited into the Central Bank of the Republic of Turkey (TCMB) deposit accounts from the Gulf countries provided relief, albeit for a short time. President Recep Tayyip Erdoğan made assessments on rental prices in a live broadcast he attended. 'The regulation limiting housing rents to 25 percent in Turkey is expiring as of July 1; do you have any good news on this subject?' Erdogan said, "If you want, it would be beneficial to leave this to the steps we will take after the election. We have to take coercive steps. The Ministry of Justice needs to take very tough measures on this issue. The most important starting point for this issue is mass housing. Right now, even the private sector is selling housing with 15-year and 20-year terms. And the down payments in these housing sales are quite low. I believe that this will, of course, pave the way for our citizens a lot. We will not sacrifice 85 million to the excessive greed of a handful of people. Our institutions are also announcing various support packages in order to increase the housing supply. As I said, we will complete the accommodation of the guests in the earthquake zone quickly, God willing. But we will never sacrifice them for exorbitant prices." "Storing money from the Gulf has relieved the TCMB" President Recep Tayyip Erdogan said on the program, “There were countries that deposited money from the Gulf into our system. This inevitably relieved our Central Bank and our market, albeit for a short time.” Erdoğan said that the economy, banking system and financial system are solid, and added, "I am saying it clearly, no one should listen to the rhetoric of these crisis mongers."