Analysis: Wary Turks aren’t buying Erdogan’s economic promise yet ...Egypt

ISTANBUL (Reuters) – Turkish President Tayyip Erdogan’s promise of a new economic era triggered a foreign-driven rally in the lira, but local investors have yet to be persuaded that policies they say have dragged on economic prospects for years will be reversed. Interviews with local portfolio managers, gold sellers and business owners suggest Erdogan’s biggest challenge will be convincing Turkish individuals and companies he can turn last month’s rhetoric of market-friendly reforms into reality. “There is a protective reflex”, built up after years of lira depreciation, said Baris Hocaoglu, general manager of Istanbul Portfoy, which manages 7 billion lira ($900 million) of assets and r

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Analysis: Wary Turks aren’t buying Erdogan’s economic promise yet ...Egypt

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