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President Recep Tayyip Erdogan has said inflation, which has risen recently, will be reduced to one figure.
President Recep Tayyip Erdogan made statements on the economy at a meeting of the AK Party Group. President Erdogan has announced that they are determined to lower interest rates to single digits and that they are determined to reduce inflation.
President Erdogan’s statements are as follows:
We are determined to reduce inflation, which has recently risen slightly, to one figure again, and we will achieve this. We are determined to reduce interest rates to single digits.
Our banking sector is able to support our growth and development. The NPL ratio of our banking sector in February was about 4 percent. The banking sector does not have a short position in foreign currency, and its surplus is about $ 6 billion.
We have become seriously involved in global value chains.
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In March, we broke the all-time export record, and the ratio of exports to imports reached 82 percent in the first quarter, making a significant contribution to reducing the current account deficit.
Our tourism industry is facing a promising demand for reservations, when the epidemic falls below a certain level, it seems we will have a much stronger tourism sector than before.
Turkey will sign many more great success stories in the potential of the economy. The economic reform package contains elements that will raise this success story higher. We will carry out reforms in accordance with the calendar we have announced.
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