6/27, 7:27 PM (Source: TeleTrader)
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Turkey to bring inflation down to 'reasonable' levels in 2023

Turkish President Recep Tayyip Erdogan stated on Monday, during the Presidential Cabinet Meeting, that the country will try to reduce its rising inflation to "reasonable" levels by February or March 2023.

Erdogan called on the Turkish citizens to have "a little more patience" during these fluctuations in rate changes. "Although we have stabilized the system, it is clear that we will bear the burden of inflation for a while," asserted the head of Turkey.

Erdogan stated that the Additional Budget proposal is currently being discussed in the Turkish Grand National Assembly, as "the variability caused by high inflation in income and expenditure figures has revealed the need for [such a measure]."

Baha Breaking News (BBN) / AY