Turkey's Finance Minister: Determined to Maintain the Process of Cooling Inflation

Jin10 data reported on August 6 that Turkish Finance Minister Simsek stated that Turkey’s anti-inflation process is clearly continuing, with inflation expected to fall to single digits within two years, and he emphasized that the government will not allow this process to deviate from its course. Simsek said he expects the inflation rate to remain within the Central Bank’s end-of-year forecast range of 19%-29%, falling below 20% next year and reaching single digits by 2027. “We maintain our end-of-year inflation expectations unchanged; the necessary conditions for inflation to cool down are basically in place,” he said. “The process of slowing inflation is developing along the path we anticipated. For us, it is important that this improvement is lasting and stable.”