Turkish Economy and Fight Against Inflation

Strengths of the Economy

Deputy President Cevdet Yılmaz emphasized Turkey’s economic performance, highlighting the country’s achievements in recent years. Yılmaz stated that Turkey has shown economic growth above the world average. He expressed that they achieved a performance above the world average with a growth rate of 4.5% last year.

• The developing Turkish economy also provided an increase in per capita income.
• The country has become a significant player in the world economy and is approaching the league of high-income countries.

Combatting Inflation and Goals

Deputy President Yılmaz emphasized that combating inflation is among the priorities, stating that they will take decisive steps to reduce inflation. Yılmaz expressed that inflation negatively affects fixed-income citizens, and therefore, reducing inflation is crucial.

• Turkey, aiming to return to single-digit inflation by 2026, plans to achieve this goal through structural reforms and monetary policies.
• The Deputy President announced that it is expected for inflation to decrease to 38% by the end of the year and the target for the following year is to fall below 20%.

Cevdet Yılmaz emphasized the strong economic performance and stated that they will continue to work decisively to reduce inflation and increase social welfare.