Minister Elvan Made a Statement About the Price Stability Committee

Treasury and Finance Minister Lütfi Elvan made a statement about the Price Stability Committee. Elvan said that there was no intervention in the Central Bank.

Treasury and Finance Minister Lütfi Elvan made a statement in response to the criticism of the intervention in the Central Bank regarding the establishment of the Price Stability Committee. Minister Elvan stated that with the establishment of the Price Stability Committee, there was no intervention in the Central Bank. Making the statement on his Twitter account, Minister Lütfi Elvan used the following statements:

"The task of ensuring price stability rests with the Central Bank. The main purpose of the Price Stability Committee is to develop solutions against supply shocks that pose a risk in inflation. There is no intervention in the Central Bank in any way."

Price Stability Committee Established

With the decree regulating the procedures and principles regarding the establishment, duties and powers of the Price Stability Committee, the structure and activities of the committee and the works and transactions to be carried out within this scope were listed. In the decree, it was stated that the Price Stability Committee was established in order to contribute to the permanent establishment and maintenance of price stability. In the decree, which stated that the Price Stability Committee consists of the Ministry of Treasury and Finance, the Minister of Treasury and Finance, the Minister of Labor and Social Security, the Minister of Energy and Natural Resources, the Minister of Industry and Technology, the Minister of Agriculture and Forestry, the Minister of Commerce, the Head of Strategy and Budget and the governor of the Central Bank of the Republic of Turkey, it was noted that the committee could invite relevant non-governmental organizations, universities and private sector representatives to its meetings if it deems necessary. The duties and authorization of the Price Stability Committee are listed as follows:

"To develop structural policy proposals to ensure price stability by observing the coordination between monetary and fiscal policies. To monitor the risks threatening price stability, to determine the measures to be taken, and to take decisions to ensure their implementation by the relevant institutions and organizations. Taking decisions to ensure that the prices determined or directed by the public are implemented by keeping price stability in the forefront."