Turkiye sees rise in foreign fund flows - Minister says

Newly appointed Turkish Minister of Treasury and Finance Mehmet Simsek at the Ministry of Treasury and Finance in Ankara, Turkiye on June 04, 2023 [Harun Özalp/Anadolu Agency]

Turkiye is close to anchoring inflation, which is expected to fall as of the second half of next year, Treasury and Finance Minister, Mehmet Simsek, said Tuesday, local Turkish media reports.

According to the report, Simsek said they expect a loss of momentum in monthly inflation soon, while not anticipating a fall on an annual basis until at least the second half of 2024.

“We have taken very strong steps in fiscal and monetary policy. We are coming toward the thresholds that will anchor inflation,” Simsek told a televised interview with broadcaster, A Haber.

Annual inflation rose to more than 61 per cent in September, according to official data, and is expected to rise further toward the end of the year.

READ: UEFA confirmed Tuesday that Italy and Turkiye will host Euro 2032

Unless otherwise stated in the article above, this work by Middle East Monitor is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. If the image(s) bear our credit, this license also applies to them. What does that mean? For other permissions, please contact us.