Erdoğan says Turkey will reduce inflation to 6-7 per cent

Turkish President Recep Tayyip Erdogan on Saturday that the rate of inflation in Turkey could fall to 6 or 7 percent of the current version of 19-20 percent, but he did not explain how it seeks to achieve the goal.

In a speech at his election campaign in the north-eastern city of Rizi, Erdoğan did not specify a timetable for the anti-inflation plan but appeared to be talking about the period following the local elections on 31 March.

Erdoğan said"the foreign exchange reserve of the Turkish central bank was $ 100 billion (when he took office)". "We'll go further with the strengthening of the central bank again. The inflation rate will decline to 6 to 7 per cent. The rate of inflation from 19 to 20 per cent does not suit us."

A Reuters survey showed on Thursday that annual inflation reached 20 percent in January is expected to show data on Monday decreased slightly to 19.9 percent in February.

Led to political uncertainty and investor concern about the monetary policy of Erdogan to the occurrence of the processes of selling in Turkish lira in 2018, causing reduced work by about 30 per cent against the dollar and pushing inflation to more than 25 per cent in October.

Inflation remains high since then, but remained without the price policy, the central bank 6.25 percentage points to 24 per cent in September.
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