Inflation statement from Cevdet Yılmaz

Vice President Cevdet Yılmaz met with business people at the “Bingöl Tourism Workshop” held at the Chamber of Commerce and Industry within the scope of his contacts in Bingöl.

“WE WILL ENTER A MORE COMFORTABLE PERIOD FROM 2025”

Referring to the difficulties experienced in the country, Yılmaz stated that there was a great earthquake, a great destruction, and 11 provinces and around 14 million citizens were affected.

Stating that they are trying to raise all provinces to their feet, Yılmaz continued his words as follows:

This year, 762 billion lira has been allocated from our budget alone for the earthquake zone. Next year, we put 1 trillion 28 billion lira in our budget for the earthquake zone. We will experience this problem this year and next year.

As of 2025, we will have entered a more comfortable period and healed the wounds of the earthquake. In this sense, Türkiye will be prepared for future earthquakes with a stronger structure. This is an investment after all.

We are rebuilding the houses there, repairing the infrastructure, and trying to revitalize socioeconomic life. All of these will prepare Turkey and our earthquake regions much more strongly for the future. In 3-4 years, we will have spent more than 3 trillion resources for our earthquake zone.

INFLATION STATEMENT

Stating that inflation is a basic problem of the citizens, Yılmaz said that Turkey has been very successful in terms of growth in the last 3 years.

Yılmaz said, “While the total growth in the world in 3 years was 7 percent, in compound terms it was 20 percent in Turkey. Our economy grew by 20 percent in real terms in 3 years. We created more than 6 million jobs. Our exports increased from 170 billion to 255 billion dollars. We have been successful in real terms, but on the financial side we are faced with the issue of inflation and of course we see this as a problem. Because it is a problem experienced by our citizens. On the one hand, we are trying to reduce inflation and, on the other hand, to maintain a certain growth momentum. “On the other hand, we are implementing some measures to protect the purchasing power of the broad masses affected by inflation.”

Stating that they will continue with such a comprehensive approach, Yılmaz stated that they have made plans and programs in this regard.

Yılmaz noted that they carried out very detailed studies and said:

We will start to see inflation declines on an annual basis as of the middle of next year. We started to see declines on a monthly basis. The monthly increases from last summer are no more. We are heading towards lower figures, but we will see the annual impact from the middle of next year.

Hopefully we will reach single digit figures in 2026. By breaking everything, you can reduce inflation very quickly. But you will appreciate that this is not the right approach. We will both reduce inflation, maintain a certain social balance, and continue to grow our economy at a certain level. We are implementing these policies.

Yılmaz stated that while doing this, they continue the struggle with an understanding that takes into account social segments and working segments, and emphasized that there is an improvement in the general macroeconomic situation.

“CONTINUE TO FOLLOW EMPLOYMENT FRIENDLY POLICIES”

In his statement on his social media account, Yılmaz said, “During the period when decisive steps were taken to combat inflation, the Turkish economy continued its ability to create employment strongly, while employment, including youth employment, increased and unemployment rates continued to decline.”

Stating that in the 3rd quarter of this year, covering July-September, the number of employed people increased by 124 thousand people compared to the previous quarter, reaching 31 million 724 thousand, Yılmaz said, “The unemployment rate in the young population covering the 15-24 age group decreased by 0.7 points compared to the previous quarter. It decreased to 17.1 percent. The unemployment rate decreased by 0.5 points to 9.2 percent. “We will continue our determination to fight unemployment and pursue employment-friendly policies for a stronger and more prosperous Turkey in the coming period,” he said.