The transition period in terms of inflation is over, we expect a downward trend in annual inflation from June inflation, i.e. to enter into disinflation, Turkish Vice President Cevdet Yilmaz told CNN-Turk Turkish television, BTA reported.
The vice president indicated that the developments are in line with the government's medium-term economic program presented in September last year, which outlines three periods: a transition period, a period of disinflation and a period of stabilization.
"We believe that after May we have left the transition period behind us. We expect to see a decrease in annual inflation from June onwards. Therefore, in June we will enter the period of disinflation. In July and August we will see it accelerate further. When we get to September, we will see that today's values are significantly lower," he said.
According to Yilmaz, Turkey is taking the right steps in terms of both the budget deficit and the current account deficit, growth and employment.
"The central bank has a reserve of 147.6 billion dollars. Last year it was about 90 billion dollars. We can say that there is a very serious improvement. "Turkey is progressing in a healthy way," the vice president said, adding that the country is now able to fight inflation on a solid basis. "We need to build an economy with higher added value,", he stressed.