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Turkish Finance Minister Mehmet Şimşek pledged a swift decline in inflation starting from mid-2024, while acknowledging the ongoing fight for price stability.
Speaking at the Uludağ Economic Summit, Şimşek emphasized the government's commitment to disinflation and highlighted the effectiveness of their Medium-Term Programme. He reassured the public that additional measures, including structural reforms, would be implemented to support disinflation efforts and strengthen their collaboration with the Central Bank.
Şimşek acknowledged the time required to reduce inflation and return to pre-shock levels, citing global parallels. He also announced the finalization of public sector savings plans, with details and necessary steps to be revealed soon.
Furthermore, Şimşek expressed confidence in maintaining a sustainable current account deficit, aiming to bring it below $25 billion. (ILKHA)
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