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Inflation Will Peak in January

In an interview with Bloomberg, Treasury and Finance Minister Nureddin Nebati made important statements about inflation, currency protected deposits and a few issues. Nebati announced that inflation in Turkey will fall to single-digit levels in June 2023, and elections will be held at this rate.

Nureddin Nebati, Minister of Treasury and FinanceHe made very important statements on the course of inflation in Turkey, the targets in this regard and many more. Speaking to Bloomberg, Nabati announced that inflation will peak in January. On the other hand, he stated that there will be a decrease as of May due to the developments in the world and the decline in food and energy prices.

Stating that there will be a significant decrease at the end of the year with the November and December inflations coming out of the base, Minister Nebati then made a remarkable statement. “I will go to the elections with single digit inflation in June 2023.” Nabati said, “Turkey’s It will enter the 2023 elections with a single digit inflation rate. stated. Pointing out that the fight against inflation is Turkey’s new goal in the economy, Minister Nebati made the following statements about 2022:

It’s too dangerous to ignore the impact of currency attacks:

foreign currency

“Now we will solve inflation. After that The year 2022 will be a year of complete turnaround, stability and business. If we have this conversation next year, you will ask me how all the positive changes in interest rates, inflation and exchange rates were realized. Because what is called inflation is not a three-day job, interest rates come down and go up quickly, but can it be as dangerous as ignoring the effect of currency attacks in Turkey, ignoring the rapid impact of currency attacks?

15% of currency protected deposits come from DTHs:

Speaking about the exchange-protected deposit application, the Minister said that as of Wednesday night, this application approximately 300 thousand people benefitedannounced that a total of 126 billion TL has been invested. Expressing that an average of 10 billion TL per day is included in the system, the minister said, about 15% of this is from DTHs (Foreign currency accounts opened in banks by individuals living in Turkey or abroad).

“We removed the current account deficit-surplus from the literature”

current account deficit

The Minister of Treasury and Finance made remarkable statements about concepts such as current account deficit and current account surplus. Minister Nabati, “In an economy this big You gave 5 billion dollars, you gave a deficit of 3 billion dollars, there is no equivalent. That’s why I say to my friends, let’s use the term current balance.” used the phrases.

In Turkey 2 billion 681 million dollars in November 2021 given the current account deficit, 12-month current account deficit 14 billion 256 million dollars was level.

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VAT rates will be simplified:

Finally, Nabati talked about VAT rates and gave information about the ongoing work in the ministry. Minister, “Citizen will know what they are paying because there are different rates like 1.8, 18 percent. More importantly, manufacturers, manufacturers, sellers are having a problem with this, and we will arrange it. Third, we have problems with VAT refunds, it takes 1 with 8; He buys at 18 and sells at 8. Here, too, we will provide simplification.” made a statement.

Source :
https://www.bloomberght.com/nebati-enflasyon-ocak-ta-pik-yapar-ama-haziran-2023e-tek-haneyle-girecegiz-2296584