11.03.2026 20:31
Speaking at the iftar program organized by the DEVA Party Istanbul Provincial Presidency, Ali Babacan made important assessments about the economic situation in Turkey. Babacan stated that citizens have to calculate their living expenses, that life is expensive, and that there is a 'fire in the kitchen.' Babacan said, "There is a fire in the kitchen in Turkey; citizens check their pockets while setting the iftar table."
DEVA Party's Ali Babacan made striking evaluations regarding the economic situation in Turkey during a speech at the iftar program organized by the DEVA Party Istanbul Provincial Presidency.
"LIFE IS EXPENSIVE, THERE'S A FIRE IN THE KITCHEN"
Babacan stated that millions of citizens in Turkey have to calculate their expenses while setting the iftar table, saying, "Retirees are calculating, minimum wage earners are calculating, young people are calculating. Because life is expensive, there's a fire in the kitchen."
Expressing that Turkey is one of the countries with the highest rates of food inflation according to OECD data, Babacan said that the cumulative food inflation in the world after the pandemic is around 40%, while in Turkey, this rate has exceeded 700%.
Noting that the monthly food expenses of a family of four exceed 31,000 lira, Babacan stated, "This figure does not include rent, electricity, natural gas, education, and health expenses."
Babacan pointed out that about one-third of children in Turkey live under the risk of poverty, stating that some children go to school hungry or have to skip meals.
"CAPITAL OUTFLOW FROM TURKEY HAS ACCELERATED"
Evaluating the economic data, Babacan noted that the current account deficit is expected to rise from 10 billion dollars to 25 billion dollars by 2025, and the financial account deficit has increased from 21 billion dollars to 42 billion dollars.
Babacan said, "The capital leaving Turkey is increasing faster than the incoming capital. Turkey used to be a country that attracted investments. Today, however, many business people are forced to invest in other countries."
"IF THERE'S NO TRUST, THERE'S NO INVESTMENT"
Emphasizing that the lack of trust is at the core of the problems in the economy, Babacan expressed that trust in the law and justice system has been damaged, stating, "If there is such a climate of fear, there will be no investment."
"WE WILL REDUCE INFLATION TO SINGLE DIGITS IN TWO YEARS"
Babacan stated that as the DEVA Party, they will re-establish rule-based management in the economy, saying that institutions will be strengthened in a short time. Babacan added, "We will change the economic climate in six months, and at the latest, we will reduce inflation to single digits within two years."
"WE STAND FOR PEACE, NOT WAR"
Addressing the developments in the region, Babacan condemned Israel's attacks on Iran, describing them as violations of international law.
Babacan stated that Turkey should be on the side of diplomacy and common sense, saying, "Turkey's place is not on the side of war, but on the side of peace and international law."