18.04.2025 10:50
The Minister of Treasury and Finance, Mehmet Şimşek, stated that inflation will continue to decrease, conveying the message, "We are determined to implement the disinflation program."
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The Minister of Treasury and Finance, Mehmet Şimşek, participated in the International Economy Summit with a video message. Minister Şimşek stated that the disinflation program will continue to be implemented, saying, "We expect low exchange rate pass-through due to weak domestic demand," and added, "We have strong reasons to be optimistic. The resilience of our country against shocks has strengthened."
Highlights from Minister Şimşek's speech are as follows: Uncertainty in global economic policies has increased more than ever. The main reason for the rise of protectionism is the competition between the USA and China. In a protectionist environment, Turkey is in a more resilient position compared to similar countries. 62% of our exports are made to countries with which we have free trade agreements. The relatively low tax imposed on Turkey offers an advantage compared to our competitors in Asia.
INFLATION WILL CONTINUE TO FALL
We are resolutely continuing our program. Our aim is to minimize macro-financial vulnerabilities by reducing the current account deficit. Recent developments in the markets, especially the decline in oil prices, indicate a current account deficit below targets. Inflation will continue to fall. We will continue to implement the disinflation program. We expect low exchange rate pass-through due to weak domestic demand. We have strong reasons to be optimistic. The resilience of our country against shocks has strengthened.
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