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Economy

Turkey's Finance Minister resigning in second surprise after lira skid

Central bank chief was removed by Erdogan on Saturday

Turkish President Tayyip Erdogan and his wife Emine look on after Turkish Treasury and Finance Minister Berat Albayrak cast his ballot at a polling station in Istanbul, Turkey, June 23, 2019.   © Reuters

ANKARA (Reuters) -- Turkish Finance Minister Berat Albayrak said on Sunday he was resigning for health reasons, in an Instagram statement confirmed by an official, marking a second weekend surprise after the central bank chief was ousted on Saturday.

The statement came after a 30% plunge in the lira currency's value this year to record lows as the economy faces a sharp contraction during the coronavirus pandemic. In the early hours of Saturday, Turkish President Tayyip Erdogan - who is Albayrak's father-in-law - replaced the central bank governor.

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