Treasury Minister Nureddin Nebati evaluated inflation

Minister of Treasury and Finance Nureddin Nebati evaluated the inflation rate, which reached 78.62%, the highest level in 24 years.

Treasury Minister Nureddin Nebati stated that despite the steps taken to increase stability in financial markets, inflation in Turkey continued to rise in June due to the high increases in global commodity prices, especially energy and agricultural products: "In order to limit the deterioration in the inflation outlook and to minimize the negative effects of inflation on our citizens, many measures have been taken, from VAT reductions to subsidies, from administered prices to foreign trade measures in critical products In addition to the various measures we have taken and continue to take against price increases, necessary measures are taken to support the purchasing power of our employees and retirees. Thus, in 2022, on a cumulative basis, we increased the minimum wage by 94.6%, the salaries and wages of civil servants and civil servant pensioners by 85.5%, and SSK and Bağ-Kur pensions by 78.6%." Stating that structural policies will be implemented in the coming days in the fight against inflation, Minister Nebati said, "In the coming period, in addition to the strong coordination of monetary and fiscal policies, it is aimed to reduce price increases by implementing structural policies that will increase competition and efficiency in goods and services markets."   Source: Investing.com