Minister of Treasury and Finance Mehmet Şimşek said, “We are on the verge of a sustainable and strong disinflation process. Inflation is likely to fall to 10s levels next year and to single digits the following year.” said.
Minister Şimşek stated that Turkey is on the verge of a sharp decline in inflation and predicted that inflation will drop to mid-teens levels next year.
Speaking at an event organized by the Chatham House think tank in London, Şimşek said, “Inflation may drop to low 40s or high 30s this year. It may drop to mid-teens next year and single-digit levels the following year.”
Şimşek said, “The markets are starting to believe that the program we have created can enable us to restrain and reduce inflation.”
Şimşek also answered a question about why Turkey is not a member of BRICS by saying that Turkey’s main partner is the European Union (EU) and it cannot leave the EU.
Şimşek’s contacts in London will continue until Friday.
Şimşek comes together with hundreds of investors within the scope of the meetings organized by investment banks JP Morgan, Deutsche Bank and Dome Group.
