Economy board says no problems in food supply

ANKARA

Turkey’s Economy Coordination Board convened late on March 8 at the Presidential Complex in Ankara to discuss the effects of the war between Russia and Ukraine on the Turkish economy and the global economy.

In a statement after the meeting, chaired by Vice President Fuat Oktay, the board said that “all measures to be taken for possible developments in international markets have been evaluated.”

“Contrary to the manipulative and unfounded claims about some food products that cause public debate, it has been confirmed by relevant institutions and organizations that there is no problem regarding supplies,” it added.

Among attendees of the board meeting were Treasury and Finance Minister Nureddin Nebati, Energy and Natural Resources Minister Fatih Dönmez, Agriculture and Forestry Minister Vahit Kirişci, Labor and Social Security Minister Vedat Bilgin, Trade Minister Mehmet Muş Culture and Tourism Minister Mehmet Nuri Ersoy and the Turkish Central Bank Governor Şahap Kavcıoğlu.

Meanwhile, the ordinary general assembly meeting of the Central Bank will be held on March 29, according to a statement released yesterday.

“The 90th Ordinary General Assembly Meeting of the Central Bank of the Republic of Turkey will be held both virtually and physically on March 29 at the Conference Hall of the CBRT Head Office,” said the statement.

Due to safety measures related to COVID-19, no members of the press will be invited. Members of the press and shareholders unable to attend in person will be able to follow the general assembly meeting via a live webcast.

The bank’s Monetary Policy Committee will gather on March 17 to decide on the interest rate policy. The Central Bank has cut its policy rate by 500 basis points to 14 percent since September 2021.

On March 3, Kavcıoğlu said that Turkey gave a successful test in the world conjuncture with the great effort of industrialists, recalling that the country’s economy grew by 11 percent in 2021.

In November 2021, the Turkish government launched a new economic program that prioritizes low interest rates, exports, employment, production and investment.