Minister of Treasury and Finance, Mehmet Şimşek, stated that Turkey’s resilience against shocks has increased. Minister Şimşek emphasized that inflation will continue to decrease.

Despite the recent deterioration in inflation expectations, Minister of Treasury and Finance, Mehmet Şimşek, stated that inflation will continue to decrease, and inflation will remain within the target range. Speaking at the International Economic Summit, Şimşek said:

In the protectionist environment, Turkey is in a more resilient position compared to similar countries. The increasing protectionism is mainly due to the competition between the United States and China. Uncertainty in global economic policies has increased like never before. Recent developments in the markets, especially the decrease in oil prices, indicate a current account deficit below the targets. The resilience of our country against shocks has strengthened. The increase in employment that we achieved while implementing the stability program is a great success. We will not compromise on fiscal discipline. The recent fluctuations in the markets may cause a temporary slowdown in economic activity.

Inflation will continue to decrease. Market fluctuations may have slightly disrupted expectations in the short term, but we believe that we will stay within the target range. We are approaching a threshold where we can grow without running a current account deficit in moderate growth.