Inflation in Turkiye by the end of this year is projected at 48-49%, Turkish Finance Minister Nureddin Nebati said, Report informs referring to Turkish media.
He noted that by the end of 2023, this figure is expected to drop to 19.9%.
Annual inflation in Turkiye in May accelerated to 73.5% from 69.97% in April, the country’s Institute of Statistics reported earlier.
The Central Bank of Turkiye in May raised its inflation forecast for the end of 2022 from 46.44% to 57.92%. This year, the regulator keeps the discount rate unchanged at 14%.
The minister also stated that neither an increase in the interest rate nor its reduction is considered in the short term.