Minister of Treasury and Finance Mehmet Şimşek stated that Turkey’s resilience against shocks has increased. Minister Şimşek emphasized that inflation will continue to decrease.

Minister of Treasury and Finance Mehmet Şimşek said that despite the recent deterioration in inflation expectations, inflation will continue to decrease and remain within the target range. Speaking at the International Economic Summit, Şimşek said:

In the protectionist environment, Turkey is in a more resilient position compared to similar countries. The main reason for the increase in protectionism is the competition between the US and China. Uncertainty in global economic policies has increased more than ever. The recent developments in the markets, especially the decrease in oil prices, indicate a current account deficit below targets. The resilience of our country against shocks has strengthened. The increase in employment that we have achieved while implementing the stability program is a great success. We will not deviate from fiscal discipline. Recent market fluctuations may cause a temporary slowdown in economic activity.

Inflation will continue to decrease. Market fluctuations may have slightly disrupted expectations in the short term, but we believe we will remain within the target range. We are approaching a threshold where we can grow without running a current account deficit in moderate growth.