Erdogan: We will reduce inflation to single digits
President Recep Tayyip Erdoğan said that they will reduce inflation to single digits. After his visit to Lithuania, Erdogan answered questions from journalists on the plane.
In his speech on the plane, Erdogan also made assessments of the economy.
Stating that they have implemented rational policies to increase the accumulation of international reserves and are working to attract international investment to the country, Erdogan said that inflation will fall to single digits.
‘INFLATION WILL GO DOWN TO SINGLE DIGIT’
Speaking about the Central Bank’s reserves, Erdoğan said: “The Central Bank’s net reserves improved by $14.2 billion in the 1-month period. These figures give confidence and encouragement to economic, financial and commercial circles”.
Erdogan also said: “Rejoice, citizens, we will reduce inflation to single digits again. We have taken measures that will strengthen the economy and make Turkey grow,” he said.
Annual inflation in Türkiye in May was 39.59 per year. Inflation climbed to 85.5 percent last October as a result of the increase in exchange rates after the low interest rate policies implemented in previous years.
INTERNATIONAL INVESTMENTS
Speaking about the visits to the Gulf countries, Erdogan said: “We are ready to make serious investments in Turkey in our previous meetings. We will conclude this with this visit.”
Erdoğan also said: “We will speed up the negotiations for the update of the Customs Union, which will have a multiplier effect on the Turkish economy. I think we will go a long way on visa liberalization,” he said. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
