Minister Şimşek gave a clear timeline for disinflation and economic recovery.

The Minister of Treasury and Finance, Mehmet Şimşek, evaluated the labor force statistics and industrial production index data for October from the Turkish Statistical Institute (TÜİK) on his social media account.

Pointing out that industrial production has contracted slightly in the first ten months of the year due to the short-term effects of the program we implemented and weak external demand, Şimşek stated, "Despite this development, the labor market continues to maintain its resilience. Employment has increased by over 1 million in the past year. The unemployment rate, seasonally adjusted, was 8.8% in October," he assessed.

BECAUSE IT PAINTED A POSITIVE PICTURE FOR 2025

Continuing his remarks, Şimşek said, "We expect global financial conditions, trade growth, and commodity prices to be more supportive for our country next year. In addition, we anticipate that the improving confidence in the real sector and the more favorable domestic financial conditions that will arise due to disinflation will positively affect economic activity. Our solid macro foundations, strengthened by our program, lay the groundwork for sustainable high and inclusive growth."