'Turkey to see single-digit inflation by September'

Turkey prioritizes reducing inflation and reaching single-digit rates, says finance and treasury minister

By Gokhan Ergocun

ISTANBUL (AA) - Turkey will see single-digit inflation by this September thanks to structural measures by the government, the treasury and finance minister said on Tuesday.

"High inflation expectations affect production, consumption, international competition, and interest rates," Berat Albayrak said at an event in the northeastern Trabzon province.

"For this reason, one of our program's priorities is reducing inflation permanently and reaching a single-digit inflation rate."

Turkey's annual inflation has dropped from over 25 percent last October to 20.35 percent in January and 19.67 percent in February, according to the country's statistics authority.

Albayrak said the rate would be below the target of Turkey's new economic program announced last September.

In the program, the country's inflation rate target is 15.9 percent for this year, 9.8 percent for next year, and 6.0 percent for 2021.

"Turkey will enter a positive process through new reforms," Albayrak underlined.

Kaynak: