Mehmet Şimşek's striking response to the question 'Will the dollar rise?'! 'If we let it...'

Treasury and Finance Minister Mehmet Şimşek explained the economic program and austerity measures at the AKP Central Decision and Executive Board (MKYK) meeting. 

According to the report by Besti Karalar from Ekonomim, Şimşek gave important messages, especially regarding exchange rate policy.

RESPONSE TO THE QUESTION 'WILL THE DOLLAR RISE?'

It was noted that in response to members asking, "Will the dollar rise?", Şimşek replied, "If we let it, it will fall," and stated that they are making purchases with the Central Bank and that this situation will continue for some time. It was stated that Minister Şimşek said the dollar would fluctuate in the long term but that they do not expect it to jump to 40.

"INFLATION WILL FALL FURTHER WITHIN A YEAR"

In his speech, it was learned that Minister Şimşek emphasized their determination to implement the economic program, saying, "Our biggest goal is to bring inflation down to single digits. Currently, all data is trending positively. Our President also gives full support to our program. Within a year, inflation will fall even further; our ultimate goal is single-digit inflation. Our President did not compromise on the program despite the elections. Year-end figures might come out high, do not let this mislead you. We will feel the effects of the program even more in the summer period, around June and July."

"WE CANNOT RELY ON HOT MONEY"

It was stated that Minister Şimşek announced that 54 billion dollars have entered Turkey in the last 1.5 months, saying, "We cannot rely on hot money. We also need to attract direct investment."

News Source: 12punto