Minister of Finance and Finance Mehmet Şimşek said, “The impact of frost and agricultural drought on the rapid increase in food prices is very high, inflation was three times the 20-year average in August and September. If there is no drought next year, there will be a rapid decline due to the base effect.” he said.
Commenting on the increase in inflation in September, Minister Şimşek said, “Some macro indicators did not go as we wanted, but there was still progress.” made a statement.
Minister of Finance and Finance Mehmet Şimşek is speaking at the Dünya Newspaper Global Economic Summit.
“Inflation WILL DECREASE QUICKLY” Minister Şimşek said, “We are currently in the second phase of the program, which has been tested with both internal and external conditions. Some macro indicators did not go as we wanted, but there was progress. The third phase will take place in June 2026, the process of price stabilization and structural transformation will be complete. Deflation continues and will continue despite the internal and external developments that they I do not foresee the high inflation of recent months will not interrupt the program. There is a rigidity in rent and education inflation, but not as much as claimed, there is a decline from a year ago in the effect of frost and drought in agriculture. “Inflation is very high, 3 times the 20-year average in August and September. If there is no drought next year, it will decrease quickly due to the base effect.” he said. “TAX INCREASES WILL BE DETERMINED UNDER INFLATION” Şimşek said, “We no longer have the problem of current account deficit, except for gold. Türkiye has achieved full reserves, KKM will be completed by the end of December and we will get rid of major risks. We will try to set tax increases below the target inflation level, we will support the central bank. The worst is over for the real economy.” he said.
