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Simsek Says Foreign Investor Interest in Turkey Has Been High

TURKEY

Annual inflation will begin to decelerate as of the second half of 2024, Turkish Treasury and Finance Minister Mehmet Simsek said in an interview with A Haber. Below are a summary of comments (via Bloomberg):

  • Simsek says the year-end inflation forecast of 65% “still valid” and that month-on-month inflation will soon “lose momentum”.
  • He said that Turkey’s economy program is “credible”, adding that the exit from FX-protected lira deposits program has already started.
  • Regarding foreign investment, he said “interest in Turkey has recently been high and we anticipate it will continue to accelerate in the near future”
  • “We have implemented robust monetary policy measures and are approaching key thresholds to control inflation... We pledged to adopt a monetary policy stance that would anchor inflation one year from now and convince investors, and we did”

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