Turkish Finance Minister Şimşek upbeat on inflation outlook, foresees accelerated disinflation

Şimşek commented on Turkish central bank's Market Participants Survey for June. He highlighted a significant decrease in year-end inflation expectations, indicating growing confidence in the government's economic program.

The survey revealed a drop in the 12-month-ahead annual inflation expectation to 31.8%, while the 24-month-ahead expectation fell to 20.3%. Şimşek emphasized that these declining figures suggest a faster pace of disinflation, the process of bringing down inflation.

The Minister expressed confidence that inflation expectations will continue to converge with the government's targets. This convergence, he suggested, will further accelerate the disinflation process, bringing positive news for the Turkish economy. (ILKHA)