Minister Şimşek comments on March inflation: 'We will do whatever is necessary'

While the Turkish Statistical Institute (TÜİK) announced March inflation at 3.16 percent, ENAG reported it at 5.68 percent. Minister of Treasury and Finance Mehmet Şimşek stated regarding the March inflation data, "We will do whatever is necessary until we reach our price stability target."

Here is the evaluation made by Şimşek on his X account:

"Monthly inflation declined in March in line with our forecast.

While additional tightening in monetary policy makes a significant contribution to the rebalancing of demand, the further increase in external financing opportunities will strengthen macro-financial stability.

Together with a fiscal policy that will tighten through expenditure control, excluding earthquake-related spending, all these developments will ensure the anchoring of inflation expectations and support the disinflation process.

We will do whatever is necessary until we reach our primary priority, which is our price stability target."

Aylık enflasyon öngörümüz doğrultusunda mart ayında geriledi.

Para politikasındaki ilave sıkılaşma talepteki dengelenmeye önemli katkı sağlarken dış finansman imkanlarının daha da artması makro finansal istikrarı güçlendirecektir.

Deprem hariç harcama kontrolüyle sıkılaşacak…

— Mehmet Simsek (@memetsimsek) April 3, 2024

News Source: 12punto