The main priority of the government’s economic programme is to lower inflation and there would be more interest rate cuts next year after the central bank cut its key rate by 250 basis points to 47.5 per cent recently, he said.
“We will definitely start lowering the interest rates; 2025 will be the landmark year for this,” he was quoted as saying by domestic media outlets.
Turkiye gives utmost importance to maintaining the competitive strength of its apparel, textile, leather and furniture sectors, President Recep Tayyip Erdogan has said.
There are plans to provide support payments of up to $70.75 per month per employee to SMEs that maintain the employment level of the last months of this year in 2025, he said.
The key priority is to lower inflation, he added.
The annual inflation rate dipped to 47.1 per cent in November compared to around 75 per cent in May, marking the lowest since mid-2023.
“The main purpose of our economic program is to compensate for the welfare loss, which our nation, our fixed-income citizens in particular, has been experiencing due to the imbalances in exchange rates and inflation, as soon as possible. To that end, we must, first of all, eliminate such matters as inflation used as an excuse for the high cost of living,” Erdogan said at the congress of AK Party in Bursa.
“The arbitrary pricing habits of greedy opportunists, which cannot be explained by inflation, exchange or interest rates, of course, do not make our job easier, they make it harder. There is a group that perceives the free market economy as disorder and exploits it to the fullest, but we will overcome them,” he added.
Fibre2Fashion News Desk (DS)
