Erdogan shuts doors to McKinsey after opposition outcry

Dünya Executive - - BUSINESS -

Turkish President Recep Tayyip Erdogan blocked a government initiative to get advice from management consultanc­y McKinsey & Co., following opposition parties’ criticism that the economy’s reins were being handed over to foreigners, Taylan Bilgic of Bloomberg reported.

I’ve told our ministers that no advisory services should be received,” Erdogan said in a televised speech in Ankara on October 6. “There’s no such need. We are enough for ourselves.”

His comments follow outcry from opposition parties, including the Republican People’s Party (CHP), that hiring McKinsey meant the government is forced to seek Western help in the face of economic turmoil. The company was compared to IMF by some columnists.

Haberturk newspaper on September 29 cited Treasury and Finance Minister Berat Albayrak saying that the ministry would work with McKinsey for the new “Cost and Transforma­tion Office” which would oversee budgetary measures.

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