Is Mehmet Şimşek the next target after Naci Ağbal? Pro-government Yeni Şafak's 'Mehmet Şimşek operation' continues

While tensions within the AKP government continue, the detention of presidential candidate Ekrem İmamoğlu on March 19 led to a sudden fluctuation in economic indicators. On that day, the dollar exchange rate hit 41 liras. At the same time, foreign currency sales also took place during this process.

According to Central Bank data and reports from expert economists, more than 60 billion dollars have been burned to date to suppress the extreme loss of value in the lira following the detention and arrest of İmamoğlu.

It did not stop there. Interest rates, which were routinely lowered until İmamoğlu was arrested, were once again increased. On April 17, the policy rate was raised from 42.5 percent to 46 percent. With these moves following one another, visible fractures have now emerged within the government camp.

YENİ ŞAFAK HAS TARGETED MEHMET ŞİMŞEK ONCE AGAIN

While all these developments are taking place in the economy, the newspaper Yeni Şafak, known for its reactionary publications, continues to target Treasury and Finance Minister Mehmet Şimşek. In its article titled 'Interest rates rose, the dollar climbed, inflation surged: Production fell, industry is stalling,' the newspaper stated that Turkey is being dragged into a high-interest rate spiral. Furthermore, it was noted that production has fallen due to financing difficulties and that industrial production has reached a standstill.

In its May 25 article, Yeni Şafak had featured content titled "Revolt against interest rates in the business world." Stating that business world representatives criticized the high-interest rate policy at the Turkey Economy Council organized by TOBB, Yeni Şafak used the headline 'High financing cost is a shackle on the producer's feet.'

IS MEHMET ŞİMŞEK AN UNWANTED MAN IN THE AKP?

Two days ago, journalist Nuray Babacan, known for her reports on Ankara's political corridors, wrote that Mehmet Şimşek has reached the point of being an unwanted man within the AKP and has become isolated. Stating that only Cevdet Yılmaz and Nihat Zeybekci remain to support Şimşek within the party, Babacan wrote that the support of these two individuals is insufficient.

HE HAD PREVIOUSLY HAD NACI AĞBAL DISMISSED WITH A YENİ ŞAFAK HEADLINE

This was not Yeni Şafak's first move regarding interest rates. Known for its harsh criticisms of Central Bank administrations, Yeni Şafak is known for the headlines it runs just before the dismissals that have occurred at the Central Bank in recent years.

In March 2021, the then-Governor of the Central Bank of the Republic of Turkey (TCMB), Naci Ağbal, had raised the policy rate from 17 percent to 19 percent. Following this move by the Ağbal administration, the pro-government media outlet Yeni Şafak ran the headline, "On whose behalf did you carry out this operation?" After these headlines, Naci Ağbal was dismissed and replaced by Yeni Şafak columnist Şahap Kavcıoğlu.