Vice President Yılmaz gives a date for single-digit inflation

Vice President Cevdet Yılmaz spoke at the 'Turkey-Uzbekistan Business Forum' held at the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in Ankara.

Making statements regarding the economic outlook, Yılmaz argued that the Turkish economy has grown by an average of 5.4 percent annually over the last 20 years. Yılmaz noted that in the first 9 months of this year, there was a growth of 4.7 percent compared to the same period last year.

"A SIGNIFICANT DECLINE WILL BE SEEN IN INFLATION"

Yılmaz stated that according to international forecasts, Turkey will reach an economic size exceeding 1 trillion dollars by the end of this year, and continued his words as follows:

"We will be the 17th largest economy in nominal dollar terms and the 11th largest economy according to Purchasing Power Parity. On the other hand, we are making efforts to reduce inflation to single digits; as a result of the policies being followed, a significant decline in inflation will be seen starting from the middle of next year."

Yılmaz reported that exports have increased more than 7-fold since 2002, reaching a level of 254.2 billion dollars as of last year, and that they will close this year with a figure above 255 billion dollars.

8 MEMORANDUMS OF UNDERSTANDING SIGNED

Vice President Yılmaz stated that he sincerely believes that Turkey-Uzbekistan relations will reach a very different level in the Century of Turkey, and that they will carry relations to the highest level together with the private and public sectors.

Following the speeches, 8 memorandums of understanding regarding cooperation in various fields were signed between the business worlds of Turkey and Uzbekistan.

News Source: AA