Minister of Treasury and Finance Noureddine Nabati on Turkey vowed on Monday to “beat” inflation, stressing that easing prices will lead to it start to feel it of Dec.
“We continue with determination battle to increase purchase power of Citizens without causing a recession in The economy. we will also Beat inflation,” Nabati told the 2nd Turkish Farmers Summit in Istanbul.
“we will start to feel it decline more Clearly at the end of The year,” The minister He said.
The event Organized by The Daily Sabah parent Company and Turkey’s leading media group Sabah, the leading newspaper in Turquoise Media.
Turkey’s annual inflation rate rises to 80% in August 24 is a new year high, mainly driven by skyrocketing food and energy prices, which jumped after Russia’s invasion of Ukraine.
However, the increase turned out to be smaller than in Past months, suggesting that price The pressure may slow down.
Nabati’s comments came a day after President Recep Tayyip Erdogan reiterated his government’s determination to tame inflation which he said would fall to “reasonable” levels. of February next year.
The government says Inflation will go down with Economic program Prioritize low interest rates to boost exports, production and investment with the aim of reducing the increase in Consumer Prices by Turkish Chronic Flipping current Account deficit into a surplus.
Head of the ongoing finance was martyred global The crisis he said caused Important problems about world.
We are witnessing this on inflation side. We declare that we will overcome this. compared to many countriesTurkey has strength economy and diplomacy power that ensure the security of food and energy supplies.
Nabati stressed, among other things, the food supply chain and security, which deteriorated after Russia invasion of Ukraine.
paid the war up global Food prices have raised concerns of shortage, in particular in Africa and the Middle East.
We don’t feel it in terms of Actions we have taken in Turkish and environment we in. “We have filled our warehouses,” Nabati said.
Turkish, along with United nations, in July brokered a deal to unblock Ukraine’s ports on the Black Sea. The agreement aims to avoid a global Food crisis ensuring safe passage of ships in And the out of Ukrainian ports allow it to export dozens of millions of ton of wheat.
Nabati said a lot countries I felt good with grain agreement.
He referred to the “breakthroughs” made over The last Two decades in relation to agriculture and livestock.
He said the annual agricultural exports have reached highest level in The history of Republic with $7.6 billion (140.2 billion Turkish liras) of July.
“We continue support Our producers with Our comprehensive practices in Yes ensure Adequate and reliable food supply, increased productivity and increased well-being of our people within framework of Strategic importance of agriculture sector minister.
“Through this approach, we have provided 24 billion Turkish liras ($1.3 billion) of support for our farmers from budget last year. this is yearWe have increased this number to 39.2 billion Turkish liras.”
