Vice President Yılmaz Sets Inflation Target in Live Announcement
Vice President Cevdet Yılmaz Discusses Türkiye’s Economic and Social Policies
In a recent live interview on NTV, Vice President Cevdet Yılmaz discussed the priorities and achievements of Türkiye’s economic and social policies in the past year. Here are some highlights from his statements:
Economic and social policies were a top priority this year, focusing on increasing employment and combating inflation. The government also made efforts to address the aftermath of the earthquake and played a role in foreign policy discussions regarding Gaza. Despite facing challenges, Türkiye was able to recover quickly from the post-pandemic period and strengthen its economy.
Yılmaz announced that inflation is expected to reach 38 percent by the end of the year. However, he shared a plan to reduce inflation to single-digit figures by 2026 through a gradual decline process starting in May. The government aims for production-oriented growth over the next three years while maintaining price stability.
The Vice President also highlighted the positive impact of export growth on Türkiye’s economy, with a 5.7 percent growth rate in the first quarter and increased Central Bank reserves by over 60 billion dollars after the election. Yılmaz reassured the public that the KKM, a temporary arrangement, is being phased out gradually.
Regarding tax regulations, Yılmaz clarified that the government’s aim is to reduce informality rather than increase inflation. He emphasized that there is no tax on earnings from the stock exchange, refuting rumors circulating on social media.
In closing, Yılmaz addressed the need for a new constitution based on civilian will, as the current constitution reflects a post-coup period with a tutelage approach. He expressed hope for a successful collaborative process with other parties to create a constitution that reflects the values and aspirations of the society.
Overall, Yılmaz’s statements shed light on Türkiye’s efforts to navigate economic challenges, promote growth, and ensure stability in the post-pandemic period.
