Fatih Erbakan reacts to Central Bank's inflation target update: 'The Mehmet Şimşek legend has collapsed'

The Central Bank of the Republic of Turkey's reassessment of its inflation forecast for the end of 2026 has become a central topic on the political agenda. The Central Bank revised its year-end inflation target, shifting it from 16 percent to a range of 15-21 percent.

Following this development, New Welfare Party Chairman Fatih Erbakan made a notable statement on his social media account. In his post, Erbakan stated that the Central Bank's target change is proof of the economic management's failure, and included the following views:

'THE ŞİMŞEK LEGEND HAS COLLAPSED'

"The economic management did not let this February pass by idly either. The Central Bank revised its 2026 year-end inflation target, which was 16 percent, and raised it to a range of 15-21 percent. This means it will be at least 21 percent, or even higher as it is every year, and single-digit inflation will remain a dream for 2027 as well. This time, they couldn't even find an excuse that makes sense! Look at who is to blame, what is the reason?! Gold kept under the mattress and Ramadan shopping! They blamed the citizens for the failure of the economic management. The truth can no longer be hidden; the Mehmet Şimşek 'legend' has also collapsed, let the next one come. The cause is clear, and so is the result... Incompetence (Economic Management) is the cause; inflation, hunger, poverty, and corruption are the results."

Following the upward revision in the Central Bank's inflation forecast, the consistency of economic data and management capability continue to be a subject of debate in the public eye. In his statement, Erbakan emphasized that the economic management has failed to achieve the expected results in the fight against inflation, in addition to criticizing them for blaming the citizens.

These criticisms made via social media have led to the questioning of confidence in the economic management and have triggered a new wave of debate in the public sphere.

News Source: 12punto