Ankara’s Economic Update: Inflation Set to Fall Rapidly
The Economy Coordination Board (EKK) in Ankara has released a promising update regarding the country’s economic performance. The board predicts that the disinflation process will kick off in June, leading to a rapid decline in annual inflation during the second half of the year. Ensuring price stability remains a top priority to achieve long-lasting welfare gains.
Chaired by Vice President Cevdet Yılmaz, the board discussed the positive outcomes of the government’s economic program, including record-high employment levels and a decrease in the unemployment rate to single digits. The meeting also highlighted efforts to narrow the current account deficit, strengthen foreign exchange reserves, and reduce the country’s risk premium.
Furthermore, the board emphasized the acceleration of green and digital transformation initiatives, aligning with the 12th Development Plan. The focus remains on increasing value-added production, productivity, and supporting high-tech exports to drive economic growth sustainably.
Additional topics on the agenda included discussions on industry green transformation, investment commitments, employment incentives, and digital currency projects. With a strategic approach and efficient policies, Ankara aims to navigate through economic challenges and enhance competitiveness on the global stage.