President of Turkey Recep Tayyip Erdogan on Wednesday sharply rejected the possibility of holding snap presidential and parliamentary elections in the country amid the record-setting fall of the exchange rate of the Turkish lira.

“I declare that the elections will be held in June 2023. There won’t be snap elections. I’m putting a period [in this regard],” the Turkish leader said in his speech at the session of the parliamentary faction of the ruling Justice and Development Party.