Mehmet

Worst is over in inflation, says Finance Minister Şimşek

The worst is over in inflation, Treasury and Finance Minister Mehmet Şimşek has said, adding that "we are the beginning of the disinflation process."

"We are implementing a very consistent disinflation program," Şimşek said in a speech he delivered at the Turkish Industry and Business Association's (TÜSİAD) high advisory council meeting in Istanbul.

Cash budget posts 431 billion Turkish Liras deficit in June

The Treasury's cash budget ran a deficit of 431 billion Turkish Liras ($13.2 billion) in June after producing a surplus of 235 billion in the previous month.

This year, the cash budget ran a surplus only in May, posting deficits in the other five months, according to data from the Treasury and Finance Ministry.

Investors’ interest in Türkiye increasing, says Finance Minister Şimşek

Investors' interest in Türkiye continues to increase thanks to the economic program the government implements, Finance Minister Mehmet Şimşek has said.

"Our cost of borrowing is falling while [Türkiye's] CDS risk premium continues to decline," Şimşek wrote on social media platform X.

Annual inflation drops to 71.6 percent in June

Consumer prices rose by 1.64 percent monthly in June, bringing the annual inflation rate to 71.6 percent, down from 75.45 percent in May, data from the Turkish Statistical Institute (TÜİK) have shown.

The monthly inflation was lower than the market expectation for a 2.2 percent increase in consumer prices. This was also the lowest monthly inflation recorded in 2024.

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