Turkish finance minister says inflation will come down to single digits by mid-2023 -Breaking
ISTANBUL, (Reuters) – Nureddin Nebati, the Finance Minister of Turkey said Saturday that inflation will fall to single digits in Turkey by mid-2023 after reaching a record 36% in December.
Nebati, speaking to Istanbul’s heads of nongovernmental organisations, also stated that conversion of foreign currency holdings into Turkish lira in the next few weeks will be faster.
According to him, more than 131 million lira (or $9.69 billion) were deposited into accounts that are part of a scheme by the government that shields forex deposits against depreciation.
($1 = 13.5214 lira)
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