Türkiye’s Medium-Term Program provides a road map for the public and private sectors and will create concrete results as the government continues to implement it, Treasury and Finance Minister Mehmet Şimşek said Friday.
Şimşek was responding to questions in a closed-door session of the "Future of Finance Summit" at the Turkuvaz Media Center in Istanbul on Friday.
He noted that the program aims to reduce inflation to single digits, ensure price stability, re-facilitate monetary stability affected by the Feb. 6 earthquakes and more.
“Annual inflation will drop to single digits by the end of 2026,” Şimşek said, adding that it is currently at 65% and is expected to drop to 36% next year, and 14% in 2025.
Noting that the results of current policies will be reflected in 2024, Şimşek said this will be especially true for the second half.
He predicted that inflation will follow a permanent downward trend in the next five months, which will be seen on a monthly basis.
The "Future of Finance Summit" at the Turkuvaz Media Center in Istanbul highlighted the overall health of the financial sector, its adaptability to global changes and its potential for sustained growth. The discussions emphasized the importance of financial stability, access to financing and regulatory measures to ensure a resilient economy.
The event gathered key policymakers from Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek to Banking Regulation and Supervision Agency (BDDK) President Şahap Kavcıoğlu, Presidential Finance Office head Göksel Aşan and Capital Markets Board (SPK) President Ibrahim Ömer Gönül, as well as top banking executives.
