Predictions Indicate Continued Disinflation for the Current Year
Cevdet Yılmaz, Turkish Minister of Treasury and Finance, recently provided insights on the country’s economic program in a statement shared on his social media account. This statement also included key findings from the January Market Participants Survey conducted by the Central Bank of the Republic of Turkey (CBRT).
Yılmaz highlighted that the economic program, designed to tackle inflation through a comprehensive set of policies, is beginning to yield positive results. He stated, “The improved inflation expectations signify growing confidence in the program, indicating that the disinflation process initiated in June of last year will persist in the current year. With the program showing signs of success, we anticipate further enhancements in expectations that align with our program’s objectives. Our reserves have surpassed 160 billion dollars, the public sector borrowing requirement (KKM) is decreasing, and the ratio of current account deficit to national income is less than 1%. Despite earthquake-related expenses, the budget deficit remains under control. Concurrently, as the inflation rate declines, our manufacturing output, exports, and job creation are on the rise, demonstrating a harmonious and sustainable growth pattern. We are committed to fostering enduring social welfare and sustainable economic growth underpinned by stability and financial security.”
Yılmaz’s remarks shed light on the positive outcomes generated by the ongoing economic program, offering a glimpse into Turkey’s progression towards stability and prosperity.
