Turkish inflation figure to drop to single-digit: Minister

State Minister Mehmet Simsek said "I believe that as soon as the uncertainty disappears, interest rates would drop and employment figure and investments would rise."

Turkish inflation figure to drop to single-digit: Minister
Inflation and interest rates would drop to single digits, Turkey's state minister said late on Tuesday.

Appearing on a private tv channel, State Minister Mehmet Simsek said institutional and political will that was required to reach a single-digit inflation figure existed in the country.

Replying to a question on current account deficit, Simsek said, "we are planning to bring down current account deficit to a reasonable level in medium and long term. We are taking necessary steps to reduce current account deficit and we will keep taking these steps."

Simsek said, "Turkey has been going through an uncertainty in the recent months. It is obvious that uncertainty makes a negative impact on economy," answering a question on the closure case against the ruling Justice and Development (AK) Party.

"I believe that as soon as the uncertainty disappears, interest rates would drop and employment figure and investments would rise. If the party does not get closed, Turkey will keep walking on its path with a new energy and hope."

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Last Mod: 30 Temmuz 2008, 12:02
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