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Turkey’s Fallen Economy Czar Faults Erdogan’s Virus Response

  • Babacan weighs in on Turkey’s economic prospects in interview
  • Opposition leader urges stimulus and not payment deferrals
Ali Babacan
Ali BabacanPhotographer: Adem Altan/AFP via Getty Images

The man who’s widely credited with shepherding Turkey through its two biggest crises in as many decades is warning the government’s response to the coronavirus pandemic is falling short of protecting the economy from lasting damage.

Turkey needs a larger stimulus program that relies on fiscal spending instead of payment deferrals and a credit binge, said Ali Babacan, President Recep Tayyip Erdogan’s former economy czar who’s formed his own party to vie for power.