Ali Babacan responds to Erdoğan's 'bottomless pit' analogy: 'Unbacked money is being printed'

DEVA Party Chairman Babacan reacted to Erdoğan's remarks at his Aksaray rally, where he said, 'In an environment of high inflation, whatever we give disappears like a bottomless pit. We first need to bring inflation under control.'

Meeting with members of the press in Gümüşhane, where he was for election campaign activities, Babacan said the following in response to Erdoğan's words:

“Mr. Erdoğan recently said, ‘This inflation is like a bottomless pit. Whatever we give is not enough.’ But there is one thing he is overlooking. The government itself is currently producing inflation. The government is the cause of inflation. Inflation is not something that comes from outside and affects Turkey.

We brought inflation down to single digits in our time, and it stayed in single digits for years. Ultimately, inflation has exploded again now. The reason for this is poor management and the Central Bank printing unbacked money. The Central Bank is currently printing unbacked money furiously.

In a country where unbacked money is being printed furiously, it is not possible for inflation to fall, and it will not happen. Those who are digging the bottomless pit, those who are deepening that pit more and more, are the ones currently governing the country.

This bottomless pit is being dug by printing unbacked money. When unbacked money is constantly printed, that pit constantly deepens. Therefore, this is not something produced from the outside. Those who are digging the bottomless pit are the ones governing the country.”

News Source: 12punto