Statement emphasizing ‘inflation’ from the Economy Coordination Board: We will permanently increase social welfare

Statement emphasizing ‘inflation’ from the Economy Coordination Board: We will permanently increase social welfare

The meeting at the Presidential Complex was attended by Minister of Labor and Social Security Vedat Işıkhan, Minister of Treasury and Finance Mehmet Şimşek, Minister of Industry and Technology Mehmet Fatih Kacır, Minister of Energy and Natural Resources Alparslan Bayraktar, Minister of Agriculture and Forestry İbrahim Yumaklı, Minister of Trade Ömer Bolat, Minister of Presidency Strategy and Budget President İbrahim Şenel, Central Bank Governor Fatih Karahan and representatives of relevant institutions and organizations attended.

The statement made after the meeting is as follows:

“Economy-related evaluations are made at the Economy Coordination Board (EKK) meetings that we hold regularly every month, and the policies and structural reforms we are implementing within the scope of the Medium Term Program (MTP) are discussed in a holistic manner.

At the third EKK meeting of 2024 held today, recent macroeconomic developments were discussed and priorities for the upcoming period were discussed.

We determined our road map in the economy in the MTP we published in September 2023. We continue to implement strong policies aimed at permanently reducing inflation, which is the main goal of our program. As a result of the tight stance in monetary policy supported by the prudent fiscal policy, a significant decline in annual inflation is expected in the second half of the year.

In the coming period, we will continue to implement the policies we have determined within the scope of MTP and the Twelfth Development Plan. We will continue our fight against inflation, which is our main priority, and will permanently increase social welfare by ensuring sustainable growth with the vision of the Turkey Century.

With the improvement seen especially in the foreign trade balance in 2024, the positive trend in the current account balance continues. We will increase value-added production and permanently reduce the current account deficit with the qualified investments we support in the coming period. We will maintain fiscal discipline through austerity measures and rationalization of expenditures in the public sector.

“We will continue to implement our structural reforms aimed at increasing efficiency and competitiveness in cooperation and coordination with all our relevant institutions, in line with the MTP calendar.”

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