Minister Şimşek: We will support the disinflation process with fiscal discipline

Mehmet Şimşek, Minister of Treasury and Finance of Türkiye

Minister of Treasury and Finance, Mehmet Şimşek, made an assessment on his social media account following the announcement of July inflation data. In his statement, Minister Şimşek emphasized that they are in a transition period aiming for disinflation and price stability, which will be supported by fiscal discipline.

Details of Minister Şimşek’s post are as follows:

With fiscal measures, exchange rate developments, and wage increases, inflation in July realized at 47.8% on an annual basis, in line with market expectations.

We are in a transition period aiming for disinflation and price stability.

With the positive impact of the monetary policy stance, annual inflation will start to decrease from mid-2024 onwards.

We will support the disinflation process with fiscal discipline.

The main goal of our policies is to permanently reduce inflation to single digits in the medium term.

Şimşek and Erkan to Attend JP Morgan Investor Meeting Tomorrow

Minister of Treasury and Finance Mehmet Şimşek and Central Bank President Hafize Gaye Erkan will attend an investor meeting organized by JP Morgan in Istanbul.

Sources close to the matter told Reuters that Şimşek and Erkan will deliver speeches during the meeting, with one source stating, “Şimşek will share with investors not only what the economic administration has done so far but also their expectations.”

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