Minister of the Treasury Nebati, “Indicators for Growth in the First Quarter”

Treasury and Finance Minister Nureddin Nebati made statements at the 65th Ordinary General Assembly of the Banks Association of Turkey. Minister Nebati stated that according to the data, there was an 7 percent growth in the first quarter. Nabati added that the increase in inflation is a temporary situation.

The 65th Ordinary General Assembly of the Banks Association of Turkey was held. In his speech, Minister of Treasury and Finance Nureddin Nebati made evaluations about the economy. Minister Nabati used the following statements: “We follow the credit growth and place the selective credit approach at the center of our policy with our Turkish economy model. The global economy is going through a difficult time. Turkey, on the other hand, continues its strong growth. Leading indicators point out that the growth will be 7 percent in the first quarter of 2022. We think that the increase in inflation is due to supply-side cost increases and is temporary. We are working on new policies on security of supply. Firms should also take bold steps in their price policies. We do not see the fight against inflation as a one-dimensional problem that only the state can solve.” Before the Minister Nebati, Alpaslan Çakar, Chairman of the Banks Association of Turkey, and Mehmet Ali Akben, Chairman of the Banking Supervision and Regulation Authority (BDDK), delivered a speech. Akben said, "In total, 82 percent of the banking sector loans are extended to the real sector engaged in production. The said ratios show that our banking sector successfully maintains its function of supporting the real economy. However, in this challenging process, our banks must contribute even more."