Turkey's finance minister, who is also President Recep Tayyip Erdogan's son-in-law, has announced on Instagram that he intends to step down from his post for health reasons.
Turkey’s finance minister, who is also President Recep Tayyip Erdogan's son-in-law, has said he intends to resign from the position due to health reasons.
Berat Albayrak announced the decision in a post on Instagram on Sunday, saying he was stepping down to spend more time with his family.
Albayrak was appointed minister of finance and treasury in July 2018, having previously been Turkey's energy minister for nearly three years.
His resignation follows the dismissal of central bank chief Murat Uysal after a 30% slide in the Turkish lira.
“I decided not to continue my duty as a minister after five years in office due to health problems,” Albayrak said on Instagram.
“I will spend time with my mother, father, wife, and children, whom I have neglected for many years out of necessity and who have never spared me their support.”
His decision to resign has not yet been confirmed or accepted by Erdogan, with some analysts saying the president had been grooming Albayrak to be his eventual successor.
In April, Interior Minister Suleyman Soylu resigned via social media, only to withdraw the announcement within hours after Erdogan refused to accept it.
Deputy Transport Minister Omer Fatih Sayan added on Twitter he hoped Albayrak’s resignation would be rejected, adding “our country, our people and our community need you”.
Albayrak, who has four children with Erdogan’s daughter Esra, has presided over a rough period in the Turkish economy.
On Friday, the lira hit another record low in trading, after losing around 45% against the US dollar since he was appointed and is the worst performer in emerging markets this year
The country was already recovering from a currency crisis in 2018 when the coronavirus pandemic hit and Albayrak’s stewardship came under criticism.