Minister of Finance on Record inflation in Turkey

Inflation in Turkey by the end of this year is predicted at 48-49%. According to the Turkish media, this was stated by the Minister of Finance of Turkey Nuddin Nebati.

According to him, at the end of 2023 it is expected that this indicator will decrease to a mark of 19.9%.

An annual inflation in Turkey, following May, accelerated to 73.5% from 69.97% in April, the country’s statistics institution said earlier.

The Central Bank of Turkey in May increased the forecast for inflation to the end of 2022 from 46.44% to 57.92%. This year, the regulator holds the discount rate unchanged – 14%.

The minister also said that “in the short term, neither an increase in the interest rate or its decrease is considered.”