Turkey achieves major gains in economy: Minister

ANKARA

Turkey is advancing step by step to meet 5% annual inflation rate target, the country’s treasury and finance minister said on Thursday.

In a Twitter post, Berat Albayrak said, in line with the government targets, the country left behind a major stage in the fight against inflation.

On Thursday, the country’s statistical authority TurkStat reported that the annual inflation figure in September dropped to single digit for the first time since July 2017.

“We will carry this success in inflation and current account balance to all areas of the economy,” Albayrak added.

Turkey saw an annual hike of 9.26% in consumer prices last month, falling 5.75 percentage points from 15.01% in August.

Over the last decade, annual inflation saw its lowest level at 3.99% in March 2011, while it peaked at 25.24% in October 2018.
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