https://sputnikglobe.com/20221226/turkeys-erdogan-says-expects-annual-inflation-to-drop-to-30-by-2023-year-end-1105804628.html
Turkey's Erdogan Says They Expect Annual Inflation to Drop to 30% by 2023 Year-End
Turkey's Erdogan Says They Expect Annual Inflation to Drop to 30% by 2023 Year-End
Sputnik International
ANKARA (Sputnik) - Turkish President Recep Tayyip Erdogan said on Monday that the government expected the country's annual inflation to drop to 30% by the end... 26.12.2022, Sputnik International
2022-12-26T20:53+0000
2022-12-26T20:53+0000
2022-12-27T03:55+0000
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"We hope that inflation, which has been declining rapidly since the beginning of the year, will fall below 30% by the end of the year. Our aim is to return our country to single-digit inflation rates in 2024," Erdogan said in his address to the nation after a cabinet meeting. On December 5, the Turkish Statistical Institute said that the annual inflation in Turkey slowed down in November for the first time in 1.5 years, dropping to 84.39% from 85.51% in October. Turkey's consumer price index increased by 2.88% in November, according to statistics. Turkey has been facing anemic economic growth since 2021, with consumer inflation skyrocketing and the Turkish lira experiencing unprecedented volatility. The central bank kept the rate unchanged at 14% for a long time this year, which resulted in a weakening of the national currency, lira.
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turkiye, recep tayyip erdogan, economy, world economy
turkiye, recep tayyip erdogan, economy, world economy
Turkey's Erdogan Says They Expect Annual Inflation to Drop to 30% by 2023 Year-End
20:53 GMT 26.12.2022 (Updated: 03:55 GMT 27.12.2022) ANKARA (Sputnik) - Turkish President Recep Tayyip Erdogan said on Monday that the government expected the country's annual inflation to drop to 30% by the end of 2023.
"We hope that inflation, which has been declining rapidly since the beginning of the year, will fall below 30% by the end of the year. Our aim is to return our country to single-digit inflation rates in 2024," Erdogan said in his address to the nation after a cabinet meeting.
On December 5, the Turkish Statistical Institute said that the annual inflation in Turkey slowed down in November for the first time in 1.5 years, dropping to 84.39% from 85.51% in October. Turkey's consumer price index increased by 2.88% in November, according to statistics.
Turkey has been facing anemic economic growth since 2021, with consumer inflation skyrocketing and the Turkish lira experiencing unprecedented volatility. The central bank kept the rate unchanged at 14% for a long time this year, which resulted in a weakening of the national currency, lira.
