President Recep Tayyip Erdogan on Jan. 19 pledged that the Turkish Lira would leave the volatility behind and the inflation would decrease thanks to their new economic program, stressing that its positive results would be seen this month, TurkicWorld reports citing Hurriyet Daily News.
“As of January, everyone will begin to see these increases in their lives. With the stabilization of the exchange rate, no one will be able to chase pricing vaguely. We think that there will be no more fluctuations in the markets due to the unbalanced foreign exchange demand,” he said at a meeting with mukhtars.
Erdogan also pledged to decrease inflation in Turkey, defining the high rate as a “bubble.”
“We believe that, like the exchange rate, we will get the bubble on inflation soon. Thus, the increases we make in salaries will become more meaningful,” he said.
As the uncertainty caused by the pandemic increases, opportunities for Turkey continue to turn into profit, the president said, adding, “The world is following Turkey’s steps closely. Besides our difficulties, we have many reasons to be hopeful.”