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Turkey’s finance minister says inflation will drop to single digits by mid-2023 By Reuters | News Today

Turkey’s finance minister says inflation will drop to single digits by mid-2023 By Reuters


© Reuters. FILE PHOTO: Shoppers carry bags as they stroll through Eminonu neighborhood amid the spread of the coronavirus disease (COVID-19), in Istanbul, Turkey January 12, 2021. REUTERS/Murad Sezer

ISTANBUL (Reuters) – Finance Minister Nureddin Nebati said on Saturday that inflation in Turkey would drop to single digits by the time of presidential and parliamentary elections scheduled for mid-2023, after hitting a 19-year high of 36 % in December.

Addressing the heads of non-governmental organizations in Istanbul, Nebati also said that the conversion of currency holdings into Turkish liras would accelerate in the coming weeks.

He added that as of Friday evening, more than 131 billion lira ($9.69 billion) had been deposited in accounts under a government program that protects lira deposits from forex depreciation.

($1 = 13.5214 pounds)

Source

Remon Buul

Chairman of the board of directors responsible for organizing and developing the general policy of the website and the electronic newspaper, he is interested in public affairs and in monitoring the latest international developments.

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