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Turkish Finance Minister: Inflation in Turkey will fall below 5 percent

02-11-2019 | admin

Turkey's Treasury and Finance Minister Baraat Alberuk has announced that his country will see inflation drop for the first time to below 5 percent in its new three-year economic program.

Alberq made the announcement thursday at an event organized by the Chamber of Industry and Commerce in the central Turkish state of Malatia.

The Turkish minister said his country's economy has been subjected to financial attacks, sanctions and threats that have diminished its counterpart in the world.

Alberq said the Turkish government is making determined efforts to ensure the country's prosperity and stability, and that Turkey is moving towards its goals at a steady pace.

He pointed out that the inflation rate had risen to 25.2 percent on the back of the imbalance in pricing behavior resulting from speculative attacks.

He said the inflation rate fell to 9.3 percent, and that it is expected to fall to 8 percent in October.

For the first time in its history, Turkey will see a level below 5 percent inflation under the new economic program, he said.

With regard to the interest rate cut by the Turkish Central Bank, Alberöq said that this did not affect exchange rates or inflation other than claims to the contrary.

"hopefully we will end 2019 with a positive growth figure."

Source/Anatolia News Agency