Turkey’s Erdogan announces decline in inflation

The inflation in Turkey has begun to decline, and this process will continue, Turkish President Recep Tayyip Erdogan said during his visit to Albania, Report informs.

"We continue to work to maintain stability in the financial markets and increase interest in the Turkish lira. Inflation has begun to decline, this process will continue. Because, as I have always said, the stream flows in the channel," he said.

The inflation in the country accelerated last year to 36.08%. On Saturday, Erdogan also said that the problem of high prices in the country will be resolved as soon as possible.

The issue of inflation is linked to the depreciation of the lira. In the past year, after several consecutive cuts in the discount rate of the Central Bank, the depreciation of the national currency of Turkey accelerated sharply, which had a negative impact on the country's financial system. Thus, the 18% collapse of the Turkish lira on November 23 was the highest in the last 20 years. The dollar exchange rate reached a record 18.4 liras on December 20, while in January last year it was worth 7.4 liras.