Mehmet Şimşek Affirms Full Support for Central Bank Amid Economic Challenges

Hazine ve Maliye Bakanı (Minister of Treasury and Finance) Mehmet Şimşek has reiterated his unwavering support for the Turkey Republic Central Bank (TCMB) in the face of economic challenges.

In a statement made via his official account, Şimşek acknowledged that the monthly inflation in February exceeded expectations, emphasizing the need for time, patience, and determination to achieve disinflation. He stated, “Disinflation requires time and steadfastness. We will continue to work patiently and determinedly until price stability is achieved.”

Sharing a message of steadfast support for the Central Bank, Şimşek added, “Our support for the Central Bank is complete. Additional tightening measures by the TCMB will contribute to balancing growth, narrowing the current account deficit, and breaking inflationary tendencies.”

The Minister’s statement comes at a crucial time, as economic indicators prompt a careful and strategic approach. The acknowledgment of the challenging economic conditions and the commitment to maintaining stability reflects the government’s dedication to navigating through these challenges with a focused and supportive stance.

Şimşek concluded his remarks by expressing confidence that the additional measures implemented by the Central Bank will play a pivotal role in addressing economic imbalances and fostering a more stable and resilient economic environment.

source: prepared by Melisa Beğiç

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