President Erdoğan: “Hopefully, with disinflation, we will break the back of inflation.”

Recep Tayyip Erdoğan

President Recep Tayyip Erdoğan, on his return from India where he attended the G20 Leaders Summit, answered journalists’ questions on the plane.

In response to questions from journalists about the high inflation, President Erdoğan made evaluations regarding the fight against inflation. He stated that the measures taken would show their effects over time and said, “We have a very clear roadmap.”

President Erdoğan responded to a journalist’s question about what economic period Turkey can expect in the coming months and what steps will be taken to combat inflation as follows:

“With disinflation, we hope to break the back of inflation, and we have no concerns in this regard. Our Medium-Term Program has received very positive feedback, not only in our country but also globally, and it has brought a different vibrancy to the markets, which is continuing. Additionally, we are hopeful that credit flows from abroad to Turkey will begin. Our discussions with Saudi Arabia and the United Arab Emirates have been very productive. Hopefully, the agreements we have made will attract significant investments to Turkey and increase cash inflow.

Bright days are ahead for Turkey in the coming days. We have put a stop to the excessive price increases in some sectors, and we will control price increases in all sectors. With the unwavering operation of the mechanism that will stop excessive price increases, inflation will rapidly decrease. We are achieving this right now. In 21 years, we have turned Turkey into a strong economic and financial structure. Despite global and regional challenges and the recent century’s catastrophe, which have brought economic difficulties, the measures we took in a timely manner are beginning to yield results. We also know that the decisions and measures taken will not yield rapid results. There is a transition period, a process of slowing down, stopping, and reversing inflation. Right now, everything is under control, and with balanced policies and structural reforms, we will bring Turkey back to single-digit inflation. In the coming period, we will see a Turkey with restrained inflation, price stability, growth policies based on investment, employment, production, and employment, and development. Our teams have been the ones to introduce this country to single-digit inflation and to fight inflation most effectively. With our focus on investment, employment, production, and exports, we will reach our goals in a short time. We have started to see positive results from our efforts. I believe that with the new steps we will take, we will implement permanent solutions. Our vision for the Turkey Century and the many steps we will take to reach it will shine Turkey’s economic star. It will lead our citizens to the permanent and sustainable increase in welfare that they deserve.”

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