Turkish President Recep Tayyip Erdogan accepted the resignation of Turkish Treasury and Finance Minister and son-in-law, Berat Albayrak on Monday evening.

The resignation comes at a time when the Turkish pound has sunk and the country’s economy is in the vortex of economic crisis.

In the initial resignation announcement earlier on Monday, which was posted on Facebook, Albayrak cited health reasons, causing confusion in the domestic political arena. Sources from the Presidential Palace stated that he was a victim of hackers. According to the post, Erdogan’s son-in-law wanted to spend more time with his family.

However, many believe that his resignation is linked to the great devaluation of the Turkish Lira in recent weeks.

Albayrak, 42, was appointed Minister of Energy in 2015, and with the re-election of Recep Tayyip Erdogan in 2018, he was appointed to the Ministry of Finance.

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