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Türkiye's annual inflation fell 11 consecutive months to 40 months in April: President Erdogan

Türkiye's annual inflation fell 11 consecutive months to 40 months in April: President Erdogan

 


Istanbul

Türkiye president, Recep, Tayyip Erdogan said on Friday that annual inflation in the country had fallen at a hollow of 40 months in April and that he will continue to fall.

“Annual inflation fell without interruption for 11 months. In April, we have reached the lowest level of the last 40 months. God will continue, this will continue,” he said at a meeting of the business in Istanbul.

Erdogan said that the current account deficit drops regularly and excluding gold, Türkiye has a current account surplus.

“The drop in oil prices works in our favor, lowering both inflation and external deficit. We are also at historical employment levels. Our unemployment rate fell to 7.9% in March. This rate is 6.5% for men and 10.6% for women. These figures indicate the lowest level of the last 20 years,” he said.

The president stressed that the country continues on its way with a objective of sustainable and inclusive growth which goes beyond short-term fluctuations.

He also discussed recent fluctuations in the global economy and said that the Storm of the World Economy would take time to calm down.

“We see that the global economy is trying to sail in a stormy sea. It will take a while for stones to settle down and the waters to calm down,” added the president.

Erdogan said that fear of inflation has become the main determining of economic policies in many countries of the world, including advanced economies.

“It is understood that the atmosphere of uncertainty will continue for a certain time with the negative impact of climbing confrontations on the prices,” he said.

The annual inflation rate of Türkiye slowed down at 37.8% in April, the lowest since December 2021, while it was 36.08%.

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Sources

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2/ https://www.aa.com.tr/en/economy/turkiyes-annual-inflation-fell-for-11-consecutive-months-to-40-month-low-in-april-president-erdogan/3562349

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