Minister Şimşek Announces Return to Single-Digit Inflation Soon

May 4, 2024

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Minister Şimşek gives a date for the return to single-digit inflation

Minister Şimşek recently attended the 8th Turkish-German Economy Day in Germany, organized by the Association of European Turkish Businessmen and Industrialists (ATIAD) at the Düsseldorf Congress Center. During his speech, Minister Şimşek highlighted the importance of Turkish entrepreneurs investing in Germany and encouraged German investors to consider opportunities in Turkey.

One of the key points Minister Şimşek discussed was the Medium-Term Program aimed at addressing macroeconomic imbalances in Turkey. He emphasized Turkey’s significant economic growth in recent years and highlighted the country’s potential as an attractive investment destination due to its large market size.

Minister Şimşek also touched upon the issue of debt and the importance of maintaining low debt levels for sustainable growth. He praised Germany for its disciplined approach to managing debt and acknowledged the challenges posed by geostrategic rivalries in the global economy.

Regarding Turkey’s economic priorities, Minister Şimşek emphasized the government’s commitment to reducing inflation to single digits, promoting price stability, and implementing structural transformations to support sustainable growth. He expressed confidence that Turkey would successfully achieve these goals with the implementation of effective programs.

Minister Şimşek also addressed the issue of budget deficit reduction and expressed gratitude to Germany for their support following a recent earthquake in Turkey. He emphasized the strong ties between Turkey and Germany and the importance of maintaining a close partnership for mutual benefit.

In conclusion, Minister Şimşek highlighted the positive effects of the government’s economic program and structural reforms in boosting investor confidence and stabilizing the economy. He reiterated the importance of cooperation between Turkey and Germany in achieving shared economic goals and strengthening bilateral relations.