10.04.2025 14:20
The Minister of Treasury and Finance, Mehmet Şimşek, stated that the decline in Brent crude oil prices following U.S. President Donald Trump's announcements regarding customs tariffs could have positive effects on inflation and the current account deficit. Şimşek noted that if Brent oil remains below 65 dollars, the year-end inflation could be approximately 1 to 1.6 percentage points below the target.
Minister of Treasury and Finance Mehmet Şimşek stated that the decline in Brent crude oil prices following U.S. President Donald Trump's tariff announcements could have positive effects on inflation and the current account deficit.
Şimşek answered journalists' questions regarding the developments in Brent oil after Trump's statements following the presentation of the Economic Cooperation and Development Organization (OECD) Turkey Review Report.
In response to questions, Şimşek stated, "If Brent oil stays below 65 dollars, the year-end inflation will be approximately 1 to 1.6 points below the target." He also evaluated that "If oil prices continue at this level, the current account deficit could fall below 1.5 percent of national income."