Finance minister: Inflation growth in Turkiye isn’t expected

The Turkish authorities do not expect inflation to rise in the short term, Minister of Finance Nurettin Nebati said, Report informs citing TASS.

“We do not expect inflation to rise in the foreseeable future and do not expect such a trend in the long term,” he said.

He noted that in the context of a negative global environment, inflation in Turkiye in March amounted to 61.1%. “The measures we have been taking since December have made it possible to ensure stability in the financial markets and bring currency fluctuations under control. In the shortest possible time, we first of all expect the situation with monthly inflation to normalize. We expect that the normalization of commodity prices, the stability of the exchange rate and the additional measures we are taking will lead to a significant reduction in inflation,” he added.

According to official data, inflation in Turkiye in March exceeded 61%, independent experts say that it has overcome the mark of 100%. On April 28, the Turkish Central Bank changed its forecast for this indicator at the end of 2022 from 23.2 to 42.8%.