Inflation Expected to Drop to Single Digits by 2026

Vice President Cevdet Yılmaz Attends November Assembly Meeting of Istanbul Chamber of Industry

Vice President Cevdet Yılmaz recently attended the November Assembly Meeting of the Istanbul Chamber of Industry and spoke on various economic and financial topics. During the meeting, Yılmaz expressed his optimism for the future, stating that he predicts inflation, which is currently around 65 percent, will gradually decrease and return to single-digit figures by 2026.

Yılmaz highlighted Turkey’s economic growth, stating that the country has grown by an average of 5.4 percent annually over a 20-year period. He also emphasized the importance of reducing risks and achieving macroeconomic and financial stability. Yılmaz mentioned that uncertainty is the enemy of the economy and stated that political uncertainties disappeared with the elections in May.

Additionally, Yılmaz discussed Turkey’s efforts to heal the wounds of disasters and reduce disaster risks. He mentioned that the country has allocated significant resources to this cause, including investing in infrastructure and housing for citizens affected by disasters.

In terms of financial stability, Yılmaz pointed out that Turkey has taken measures to reduce foreign exchange and budget risks, resulting in a decrease in the country’s risk premiums. He also projected that inflation would gradually decrease and return to single-digit figures in 2026.

Looking ahead, Yılmaz emphasized Turkey’s goal to step into the league of high-income countries, with the country’s national income and per capita income expected to increase over the coming years. He expressed optimism about Turkey’s future economic growth and emphasized the importance of reducing uncertainty and increasing predictability to strengthen the country’s growth perspective.

Overall, Vice President Cevdet Yılmaz’s attendance at the Istanbul Chamber of Industry’s November Assembly Meeting highlighted Turkey’s efforts to achieve economic and financial stability and pave the way for future growth.

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