Turkey's Erdogan Shuts Doors to McKinsey After Opposition Outcry

(Bloomberg) -- 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.

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

His comments follow outcry from opposition parties, including the Republican People’s Party, that hiring McKinsey meant the government is forced to seek Western help in the face of economic turmoil. Haberturk newspaper on Sept. 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. Albayrak is Erdogan’s son-in-law.

To contact the reporter on this story: Taylan Bilgic in Istanbul at tbilgic2@bloomberg.net

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net, Rene Vollgraaff, Brian Wingfield

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