Fighting inflation top priority: Şimşek

GAZİANTEP

The government’s priority is to fight inflation, Treasury and Finance Minister Mehmet Şimşek has said, noting that revenue and expenditure policies that would restore fiscal discipline are being implemented.

Tight monetary policy, selective credit and quantitative tightening steps were put into effect to achieve disinflation, Şimşek said in a speech he delivered at the Horasis Global meeting, attended by international investors and CEOs, in the province of Gaziantep.

“Foreign investor interest in Türkiye has increased and that the financing provided from abroad has a positive impact on international reserves,” the minister added.

Monetary and fiscal policies will be supported by comprehensive structural reforms in the coming period, according to Şimşek.

The minister reiterated that the earthquake-related expenditures caused a temporary deterioration in the budget balance.

“It is important to improve the public fiscal balance by establishing fiscal discipline. Revenue and expenditure policies which would restore fiscal discipline have been put in use,” Şimşek furthered.

Meanwhile, Vice President Cevdet Yılmaz said that the development plan, the economic program and the 2024 budget are designed to help heal the wounds from the disasters, achieve price stability and ensure balanced growth.

“Regardless of global and regional conditions, we will continue to work for the sustainable growth and social welfare of our country in a planned manner,” Yılmaz wrote on the social media platform X.