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Erdogan to Meet Finland’s Niinisto; Central Bank Release Monthly Survey Results

TURKEY
  • President Erdogan will meet Finnish President Niinisto today in Ankara. The two leaders are scheduled to hold a press conference at 1345 GMT/1645 local time. The Turkish president has said he plans to “fulfill” the promise to Finland about its bid to join NATO.
  • Turkey's inflation estimate next 12 months was 31.63% in March, according to the Central Bank of Turkey, up from 30.75% prior. The year-end inflation estimate was 37.72%, while USDTRY is seen at 22.91 as of end-2023 (Prior: 22.84). 2023 GDP growth is estimated at 3.5% (Prior: 3.6%). 2024 GDP growth estimated 4.4% (Prior: 4.5%).
  • The share of foreign currency in the government’s debt stock continues to increase despite the government’s success in directing citizens’ savings to FX-protected deposits, Dunya report. According to data from the Ministry of Treasury and Finance, the amount of the government's total debt denominated in foreign currency increased by TRY88.8bln in January to TRY2.730trln, despite the flat exchange rate.

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