President Erdoğan made statements regarding visa liberalization, Customs Union update, and social assistance upon his return from the NATO Leaders’ Summit.
President Erdoğan, who also mentioned the new management team in the economy and the upcoming visit to the Gulf region, stated that he will visit Saudi Arabia, Qatar, and the United Arab Emirates to strengthen the relations. Erdoğan noted that the leaders expressed their readiness to make significant investments in Turkey.
Emphasizing that the economy is in the hands of competent personnel, President Erdoğan stated that they will bring inflation down to single digits, take steps to strengthen the economy, and grow Turkey. He further stated the following:
Reserves have improved by $14.2 billion
Central Bank reserves, which were $98.5 billion on May 26, reached $108.6 billion on June 30. During this one-month period, net reserves showed an improvement of $14.2 billion. These figures instill confidence and courage in the economy, finance, and trade circles. We will implement our economic program without compromise in line with our set targets. We are implementing rational policies to increase international reserves and working to attract international investments to the country.
“We will see inflation in single digits soon”
We will not hesitate to take the necessary steps for Turkey’s growth and the welfare of our citizens. After completing all the necessary infrastructure and superstructure works, the declining trend of inflation will naturally bring it down to single digits. I believe that we will see single-digit inflation figures in a short time.
President Erdoğan also mentioned the establishment of the Family and Youth Bank and stated that a portion of the revenue generated from natural gas and oil will be transferred to this bank. He announced that payments under the Turkey Family Support Program have begun.