Minister of Treasury and Finance Mehmet Şimşek made a presentation on the economy at a program he attended in Istanbul. Minister Şimşek said that they aim to reduce inflation to 20 percent levels in 2025 by accelerating structural transformation. Şimşek signaled that new measures will be taken at home.
Stating that the most important reason for the high cost of living is high rents, Minister Şimşek emphasized that the housing supply will be further increased. Şimşek said, ”We allocated 611 billion lira from the budget for the Half of It is on Us Campaign between 2024 and 2027. “If we had the opportunity, we would like to increase the share we allocate to housing production by 3-5 times,” he said.
Making a statement about the inflation target, Minister Şimşek said, “Our target is to reduce inflation to 20 percent in 2025 and 10 percent in 2026.”
