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FinancialNews
03-11-22
Turkey to carry on battling for single-figure inflation
(MENAFN) Turkey’s battle versus inflation is going to carry on until it hits single-digit rates, the nation’s Turkish treasury as well as finance minister stated on Wednesday.
While giving a speech at the initial ceremony of the Independent Industrialists and Businessmen Association (MUSIAD) Expo in Istanbul, Nureddin Nebati mentioned that international improvement, currency problems, as well as peak inflation estimates have had a pessimistic effect on inflation.
The nation's yearly inflation level two months ago stood at 83.45 percent.
Expressing how the Turkish economy surged 7.5 percent in the opening 6 months of this year, he stated that "Our economy has seen positive growth for eight quarters, and machinery investments have increased for 11 quarters, continuing to increase uninterruptedly, which clearly shows that our growth is built on a healthy foundation."
He noted that the nation's employment numbers also reached the pre-pandemic rate to amount to 31 million, a historic peak.
MENAFN03112022000045014228ID1105124345
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