Berat Albayrak

Turkish Treasury and Finance Minister Berat Albayrak said there would be no compromise in budget discipline in his program to combat surging inflation due to be announced next week, Anadolu Agency reported on Oct. 7.

Turkey will announce measures to be taken in the fight against inflation next week, Finance Minister Berat Albayrak has said, after data showed annual consumer price inflation jumped to nearly 25 percent in September.

The Turkish government is ready to provide required support to its banks should the need arise due to recent developments, Treasury and Finance Minister Berat Albayrak has said.

The New Economic Plan (YEP) presented by Treasury and Finance Minister Berat Albayrak on Sept. 20 includes changes in the regulation of the Private Pension System (BES), making wage earners obliged to stay in the plan for three years.

Turkey's inflation will peak in October, but enter a downward trend by the end of the year, Finance Minister Berat Albayrak said on Sept. 20, hours after unveiling a new medium-term program.

Treasury and Finance Minister Berat Albayrak has announced Turkey's Medium-Term Economic Program (OVP), which was renamed as New Economy Program (YEP), revising targets for inflation and growth.

Turkey's Treasury and Finance Minister Berat Albayrak has said that the Central Bank's decision to sharply raise the interest rate ended the debate on its independence.

Treasury and Finance Minister Berat Albayrak

International rating agencies have been making intense efforts to create a pessimistic view of Turkey's banks, Treasury and Finance Minister Berat Albayrak said on Aug. 31, but added that the government vowed "to stand by its financial institutions."

The government sees no big risk regarding Turkey's economy or financial system, as the economy's foundations are robust in mainly three areas, Treasury and Finance Minister Berat Albayrak has said.