Cevdet Yılmaz: Inflation will decline faster in July and August.

The Vice President Cevdet Yılmaz, speaking about inflation, said, "Annual inflation decreased by 3.8 points to 71.6. When July and August come, you will see a much faster decline in annual inflation. In July, you will see inflation dropping to around 60s, and in August, to around 50s."

VICE PRESIDENT YILMAZ MEETS WITH BUSINESS WORLD

Vice President Cevdet Yılmaz, who came to Edirne to watch the final matches of Kırkpınar Oil Wrestling and present awards to the wrestlers who will achieve rankings, attended the 'Business World Meeting' held at the Chamber of Commerce and Industry (ETSO) after the governorship visit.

"TURKEY HAS DEMONSTRATED SIGNIFICANT GROWTH PERFORMANCE"

Yılmaz, stating that Turkey has shown good performance in terms of growth, said: "In the period of 2020-2022, we have demonstrated a significant growth performance. In 2023, we had a growth rate of 4.5 percent. While the world grew by 3 percent, we grew by 4.5 percent. When we come to this year, we expect a growth rate of around 4 percent. In our medium-term program, we expect performance above the world average. In the first quarter, we had a growth rate of 5.7 percent."

"WE ARE THE 17TH LARGEST ECONOMY IN THE WORLD"

In the future, we will continue to grow at a certain level and achieve this growth. We are an important economy in the world. In terms of nominal dollar basis, we are the 17th largest economy in the world. When calculated based on purchasing power parity, we are the 11th largest economy in the world. Our national income exceeded 1.1 trillion dollars for the first time last year. To be precise, the figure for last year was 1 trillion 119 billion dollars. Our per capita income has increased to 13,110 dollars, and we want to carry this pace to the future.

"WHILE REDUCING INFLATION, WE WANT TO PRESERVE GROWTH AND EMPLOYMENT"

Dear friends, our growth has shown a different approach from last year to today. We want to grow more with production rather than consumption, and we say let's grow more with investment and exports. While reducing inflation, we also want to preserve growth and employment. This is not an easy task, and we consider the composition and components of growth to be particularly important for achieving this. We are making efforts for growth driven by production and exports."

"WE HAVE ENTERED THE DISINFLATION PROCESS"

Yılmaz, saying "Our main problem is inflation," continued his words as follows: "Therefore, in the medium-term program we prepared last year, we put inflation as the main priority and divided it into 3 periods. We said the first year will be a transition period. The second year will be the disinflation process, and the third year will be the period of permanent price stability. We completed the transition period in May and entered the disinflation process. As you know, in June, monthly inflation was 1.64.

"INFLATION WILL DECLINE RAPIDLY IN JULY AND AUGUST"

Annual inflation decreased by 3.8 points to 71.6. When July and August come, you will see a much faster decline in annual inflation. In July, you will see inflation dropping to around 60s, and in August, to around 50s. We need to continue this struggle until we reach single-digit figures. Next year, we will strive to reduce it to the 20s, and in 2026, to single-digit figures."