Turkey’s opposition block formed by the six opposition parties vowed to ensure independent monetary management in the event that they came to power in a new report announced on June 13. “The Institutional Reforms Commission” established by the six-party opposition block finished its first report which focused on the block’s reform propositions to be implemented
How to start writing this article? The Minister of Treasury and Finance said, “at a crossroads, we have chosen to grow with inflation. Otherwise, we could have taken very drastic measures to reduce inflation.” Alternatively, I would begin with this: “The dollar exchange rate, which had been 9.5 liras at the beginning of November 2021,
Turkey’s inflation keeps soaring as Turkish Statistical Institute (TURKSTAT) May calculations indicate a 73 percent increase in annual Consumer Price Index (CPI), while independent inflation research group ENAGroup calculates 160 percent rise. According to TURKSTAT, the CPI increased by 2,98 percent in May 2022, reflected as 73.50 percent in annual increase. The Producer Price Index
President Recep Tayyip Erdoğan summoned his top economy policy officials in a closed-door meeting at the presidency on May 31 amid announcements of new price hikes while high inflation keeps straining households. Erdoğan held an emergency meeting at the Presidency attended by Treasury and Finance Minister Nureddin Nebati, Central Bank of the Republic of Turkey