Over 131 billion liras put into FX-protected accounts in Turkey: Finance minister
ISTANBUL
More than 131 billion Turkish Liras have been put into the foreign exchange-protected deposit accounts since the scheme was launched, Treasury and Finance Minister Nureddin Nebati has said.
“Since the inception of the new program, some 10 billion liras have been put into those accounts each day. People have been showing a strong interest in the scheme,” Nebati said at a meeting with members of non-governmental organizations in Istanbul on Jan. 15.
On Dec. 21, 2021, the Treasury and Finance Ministry and the Central Bank jointly introduced the new scheme to protect Turkish Lira time deposit accounts against any losses caused by FX fluctuations.
The minister reiterated that inflation will increase in January but will decline afterwards.
“We will all see and experience the changes after the first quarter…with the steps to be taken and the fiscal policies to be implemented, inflation will ease to single digits next year, when the elections will be held,” Nebati said.
