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FinancialNews
28-04-22
Turkish FM: Increase in energy costs speed up inflation
(MENAFN) On Saturday, Turkish Finance Minister Nureddin Nebati stated that the worldwide increase in energy costs was speeding up inflation in the nation, but Ankara would carry on working to lower it, also stating that the lira's latest decrease was within "acceptable" levels.
Inflation hit 54 percent two months ago and economists estimate it to remain increasing towards 70 percent in future months, after Russia's attack on Ukraine sent commodity values rising and knocked the lira.
Speaking at a business meeting in the southern resort of Antalya, Nebati stated that an administration-backed arrangement that defends lira deposits against decrease had assisted eliminate worries around what he named "attacks" on the lira's trading rate.
Nebati stated that, "what we have seen in recent months is that the exchange rate is stable and moves forward within acceptable limits."
MENAFN28042022000045014228ID1104112067
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