Erdoğan: You Know My Approach, Inflation Will Fall Along with Interest Rates

Forex - President Erdoğan stated, "You know my approach. Hopefully, inflation will decrease along with interest rates."

President Recep Tayyip Erdoğan answered questions from journalists following his visits to Kyrgyzstan and Hungary. Erdoğan expressed that inflation would now be on a continuous decline, saying, "No one should have any doubts about this. We will all see these decreases in inflation over the past two months. You know my approach. Hopefully, inflation will decrease along with interest rates. You should not have any concerns about this. This is my logic in economics. This is the information I have acquired and learned as an economist."

Regarding the economy, Erdoğan stated the following: "Inflation will now continuously decline. No one should have any doubts about this. We will all see these decreases in inflation over the past two months. No one should have any doubts about this. At this moment, signs of this decline are already visible. Without leaving room for hesitation, hopefully, we will witness this decrease in inflation. You know my approach. Hopefully, inflation will decrease along with interest rates. You should not have any concerns about this. This is my logic in economics. This is the information I have acquired and learned as an economist. Remember during Mehmet Bey's tenure as Finance Minister, interest rates were over 4% and inflation had dropped to 5.6%. Now we will hopefully bring this back to our country's agenda. This positive trend will continue with the implementation of a stable fiscal policy and structural reforms. Additionally, external economic conditions and developments in global markets will also affect Turkey's economic situation. We will continue our economic steps, taking into account all kinds of risks, with the same determination and discipline. I believe that next year we will remove inflation from our agenda and focus on new and major investments. We are strengthening our economic defense against global crises and fluctuations, and we are taking steps to protect our economic independence."