President Recep Tayyip Erdogan on He said on Monday that Turkey would start To see a stronger positive effect of The economic government policy Prioritize low interest rates on inflation soonThe government aims to address the rise, he reiterated cost of living.
The government Low interest rates were introduced to boost exports, production, investment and innovation new functions as part of economic programultimately aiming to reduce inflation by reversing the country’s chronic condition current account deficit into surplus.
We will feel the positive effects of Our low interest rate policy that gives priority to production, employment and exports, on inflation more soonErdogan event in Istanbul.
To cope with the expected economic slowdown in The second half of this is yearcentral Turkey bank I proceeded on A loosening cycle between August and November, bringing it down policy rate by 500 basis points to 9%.
Rising prices in Turkish is moderate in November, according to official Data, indicating inflation pressures plaguing consumers for About year and a half Relief may be last.
The annual inflation rate has decreased below 85% last 24-month after touchingyear high in October. it is expected that decline sharply like a result of Al-Qaeda effect .in the end of The year Low global energy prices.
“We’re bees issue of The cost of Living which is the largest source of distress in All worldincluding Europe and America, step By step Erdogan said.
Minister of Treasury and Finance Noureddine Al-Nabati on monday said decline in Inflation will be seen due to the rule effect that will last Till the end of mayo next yearstressing that negative rates can be observed in food along with the summer.
The citizen does not look at the base effect” in Inflation, but in his pocket. We’ll see the math declinebut there is a will also is being decline Al-Nabati told the Turk business Daily Nasıl bir Ekonomi.
The lira is not far from the “optimal point”
Nabati also Address recent statements by the two exporters who He complained that the Turkish lira was becoming increasingly overvalued and foreign exchange rates should is being directly proportional to inflation levels.
lira current He said the level is not “too far from optimal” and further depreciation could fuel consumer inflation.
(Exporters) should not complain in In vain about the exchange rate … the increase in Foreign exchange will disrupt our inflation plan.” minister pointed out.
President of the Turkish Exporters Association (TIM) Mustafa Goltepe last Stabilization week said in The lira, despite the rise in inflation, is hurting the competitiveness of exporters and some risk losing markets. However, he did not suggest a specific level in the lira.
The authorities used a battery of Regulations to strictly control the exchange rate in getting up of deep slice in lira in Late 2021, A.J year in As the Turkish currency lost 44% in favor of the United States dollar. The currency fell another 29% yearbut it has stabilized since the summer and has been stable around 18.6 TL since early October.
The depreciation of the lira earlier gave exporters of Turkish textiles, white goods and cars big competitor edge globally. But since the mainframe bank And the government Employed reserves management systemHowever, those benefits are beginning to erode.
The current account gap is low in 2022
2022 will go down in history as the worst year. There is a foreigner trade inability of 100 billion dollars and a current Account deficit of $50 billion, but thank God we are leaving this difficult period behind, Nabati said.
One of The main drivers of Economic Turkish growth this is yearexports hit recordLarge sizes all around first 11 months of this is year. However, A.J global Deceleration hitch mode on Foreigner demandparticularly among the largest Turkish companies trade Partners, led by Europe.
Outbound shipments from January to November jumped 14% from a year Before $ 231 billion, while imports up 36.6% to approximately $331.1 billion, primarily driven by sharp gains in Energy and commodity prices after Russia invasion of Ukraine.
separate data on Monday showed Türkiye posted smallest current Account deficit in a year driven by strong tourism revenue.
deficiency in The current Arithmetic, is the broadest scale of trade and investment in At $359 million in October, according to data from the Central bank. figure came up in compared to an average deficit of $2.88 billion in September.
Income from foreign tourists came in At $5.5 billion, the second-highest monthly flow on record according to central bank The data continues back Almost four decades. Official reserves rose by $5.1 billion second Larger jump in 2022 after the recorded increase of $ 10.8 billion in August, after a Russian state company transferred money to Turkey for Building of nuclear power Factory.
Bank accounts set up by Russian tourists also Contribute to current established in Nabati said that Turkey’s holdings of foreign currencies of Monday’s data.
President Recep Tayyip Erdogan on He said on Monday that Turkey would start To see a stronger positive effect of The economic government policy Prioritize low interest rates on inflation soonThe government aims to address the rise, he reiterated cost of living.
The government Low interest rates were introduced to boost exports, production, investment and innovation new functions as part of economic programultimately aiming to reduce inflation by reversing the country’s chronic condition current account deficit into surplus.
We will feel the positive effects of Our low interest rate policy that gives priority to production, employment and exports, on inflation more soonErdogan event in Istanbul.
To cope with the expected economic slowdown in The second half of this is yearcentral Turkey bank I proceeded on A loosening cycle between August and November, bringing it down policy rate by 500 basis points to 9%.
Rising prices in Turkish is moderate in November, according to official Data, indicating inflation pressures plaguing consumers for About year and a half Relief may be last.
The annual inflation rate has decreased below 85% last 24-month after touchingyear high in October. it is expected that decline sharply like a result of Al-Qaeda effect .in the end of The year Low global energy prices.
“We’re bees issue of The cost of Living which is the largest source of distress in All worldincluding Europe and America, step By step Erdogan said.
Minister of Treasury and Finance Noureddine Al-Nabati on monday said decline in Inflation will be seen due to the rule effect that will last Till the end of mayo next yearstressing that negative rates can be observed in food along with the summer.
The citizen does not look at the base effect” in Inflation, but in his pocket. We’ll see the math declinebut there is a will also is being decline Al-Nabati told the Turk business Daily Nasıl bir Ekonomi.
The lira is not far from the “optimal point”
Nabati also Address recent statements by the two exporters who He complained that the Turkish lira was becoming increasingly overvalued and foreign exchange rates should is being directly proportional to inflation levels.
lira current He said the level is not “too far from optimal” and further depreciation could fuel consumer inflation.
(Exporters) should not complain in In vain about the exchange rate … the increase in Foreign exchange will disrupt our inflation plan.” minister pointed out.
President of the Turkish Exporters Association (TIM) Mustafa Goltepe last Stabilization week said in The lira, despite the rise in inflation, is hurting the competitiveness of exporters and some risk losing markets. However, he did not suggest a specific level in the lira.
The authorities used a battery of Regulations to strictly control the exchange rate in getting up of deep slice in lira in Late 2021, A.J year in As the Turkish currency lost 44% in favor of the United States dollar. The currency fell another 29% yearbut it has stabilized since the summer and has been stable around 18.6 TL since early October.
The depreciation of the lira earlier gave exporters of Turkish textiles, white goods and cars big competitor edge globally. But since the mainframe bank And the government Employed reserves management systemHowever, those benefits are beginning to erode.
The current account gap is low in 2022
2022 will go down in history as the worst year. There is a foreigner trade inability of 100 billion dollars and a current Account deficit of $50 billion, but thank God we are leaving this difficult period behind, Nabati said.
One of The main drivers of Economic Turkish growth this is yearexports hit recordLarge sizes all around first 11 months of this is year. However, A.J global Deceleration hitch mode on Foreigner demandparticularly among the largest Turkish companies trade Partners, led by Europe.
Outbound shipments from January to November jumped 14% from a year Before $ 231 billion, while imports up 36.6% to approximately $331.1 billion, primarily driven by sharp gains in Energy and commodity prices after Russia invasion of Ukraine.
separate data on Monday showed Türkiye posted smallest current Account deficit in a year driven by strong tourism revenue.
deficiency in The current Arithmetic, is the broadest scale of trade and investment in At $359 million in October, according to data from the Central bank. figure came up in compared to an average deficit of $2.88 billion in September.
Income from foreign tourists came in At $5.5 billion, the second-highest monthly flow on record according to central bank The data continues back Almost four decades. Official reserves rose by $5.1 billion second Larger jump in 2022 after the recorded increase of $ 10.8 billion in August, after a Russian state company transferred money to Turkey for Building of nuclear power Factory.
Bank accounts set up by Russian tourists also Contribute to current established in Nabati said that Turkey’s holdings of foreign currencies of Monday’s data.