Erdogan tells Turks not to panic, inflation can be quickly fixed

ISTANBUL – President Tayyip Erdogan said on Wednesday Turks should act with reason and avoid panic after the lira slumped to record lows, adding that Turkey’s current 20% annual inflation could be solved rapidly.

In a speech to lawmakers from his ruling AK Party in parliament, Erdogan said it was unfair to judge the Turkish economy based solely on the inflation rate.

(Reporting by Tuvan Gumrukcu and Ezgi Erkoyun; Writing by Daren Butler; Editing by Jonathan Spicer)