Turkish President Recep Tayyip Erdogan appointed Nureddin Nebati as Minister of Finance … The decree was published in the Resmi Gazete.
According to the document, Nureddin Nebati was appointed to the post instead of Lutfi Elvan. Previously, he served as deputy head of the Ministry of Finance. Elvan became finance minister in November 2020.
The Turkish lira lost half of its value in a year. At the moment, the rate is 13.34 lira per dollar. The collapse occurred due to the key rate cut, which the Central Bank again lowered from 16 to 15 percent on November 18, despite the record level of inflation in the country. Later, Erdogan announced that he was going to continue to cut the key rate.