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Yilmaz, Simsek to Defend MTP in Press Conference

TURKEY
  • Following the Medium-Term Programme unveiled by Yilmaz and Erdogan yesterday, at which the President endorsed ‘tight’ monetary policy, the Yilmaz and finance minister Simsek are to answer journalist questions today, although no set time has been given for the event.
  • Yesterday’s MTP included a structural reform calendar and fresh set of economic projections, delaying the expected return of inflation to single digits rises to 2026: Growth seen at 4.4% this year, downgraded to 4.0% from 5.5% in 2024, Budget balance/GDP ratio seen at 4.4% from -3.5% previously, CPI: 2023 at 65% (Prev. 24.9%), 2024 at 33% (Prev. 13.8%), 2025 at 15.2% (Prev. 9.9%), 2026 at 8.5%
  • The Turkish Exporters Assembly have found Turkey’s reputation overseas for safety of exports has deteriorated – particularly across Europe. The findings are based on warnings from the Trade Ministry, which has been enforcing safety requirements via fines and sanctions.
  • Cash budget balance data crosses later today, with a light docket elsewhere.

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