He asserted that a decline in inflation is anticipated by July, with a significant decrease expected in the latter half of the year.

Yılmaz emphasized that the disinflation process is set to begin, targeting an inflation rate of approximately 15 percent by 2025 in the Medium-Term Programme.

Furthermore, the goal is to achieve single-digit inflation rates again by 2026. He acknowledged the impact of the Covid-19 outbreak, highlighting that while the global economy grew by around 3 percent last year, the Turkish economy experienced a more robust growth rate of 4.5 percent.

Yılmaz outlined a growth strategy aimed at combating inflation, involving reducing the relative share of consumption expenditures and encouraging greater contributions from investment and exports. Recent figures indicate positive trends in fixed capital investments (up 10.7 percent) and machinery and equipment investments (up 14 percent).

Yılmaz highlighted that consumer expenditures have dropped to single-digit growth for the first time in a while, indicating progress toward disinflation.

The Vice President expressed confidence that inflation will decrease starting in June-July, with a more significant decline anticipated in the second half of the year. (ILKHA)