Interest and inflation assessment from President Erdoğan


Lerato Khumalo

Breaking News… President Recep Tayyip Erdoğan answered the questions of journalists on the plane returning from his visit to Spain-Italy.


Erdoğan’s statements are as follows:

We will wait for the last quarter of the year. Hopefully these will be fully visible in the last quarter of the year. We’re keeping it tight right now. But the whole issue comes again, it is based on interest. Hopefully, with the steps we will take regarding interest rates, we will move inflation to a much more positive position in the last quarter. As a matter of fact, policies aimed at balancing the economy are bearing fruit. The current account deficit has decreased significantly. As of May, our annual exports exceeded 260 billion dollars. The decline in our imports continues in the same way. Our Central Bank reserves reached the highest level in our history with 146.2 billion dollars. The increase in reserves will continue. We do not compromise on our fight against exorbitant price increases and opportunism, which are the reasons that trigger the high cost of living. We will not tolerate those who slaughter blood for the nation’s food and bread. We will carry out this critical process sensitively, on the one hand, by maintaining financial discipline, encouraging public savings, and on the other hand, by increasing inspections.