Turkey is determined to deliver on its medium-term economic agenda. This was stated by the President of Turkey, Recep Tayyip Erdogan, who spoke last night at an iftar (dinner during the holy month of Ramadan for Muslims) in Ankara in front of members of the security forces, writes the Turkish newspaper “Dyunya”, quoted by BTA.
We are determined to implement our medium-term program and the 12th development plan, which are our road map in the economy, the president pointed out.
Erdogan made the announcement just days after his Justice and Development Party (AKP) lost an election for the first time in 22 years. On March 31, a local vote was held in the country. According to many analysts, one of the reasons for the loss of AKP is the difficult situation in the sphere of the economy in Turkey.
Without compromising on growth, we will increase employment and exports, increase investment and production. We hope that we will witness a decline in inflation from the second half of the year, Erdogan said last night.
The Turkish Statistical Institute announced yesterday that inflation in Turkey rose to 68.5 percent year-on-year in March.
At the same time, according to the group of independent economists ENAG, the level of inflation in the country in March was 124.63 percent on an annual basis.
According to official data, at the end of 2023, inflation in Turkey amounted to 64.77 percent. By the end of 2024, the Turkish Central Bank predicts inflation to drop to 36 percent.