Erdogan hopes to reduce inflation to single digits

Recep Tayyip Erdogan, Turkish President

© APA | Recep Tayyip Erdogan, Turkish President

# 27 May 2023 02:23 (UTC +04:00)

Turkish President Recep Tayyip Erdogan said on Friday that inflation in Türkiye has started a "downward trend" and that he hopes it will be reduced to single digits, APA reports citing Teletrader.

He assured that his economic program is working "as planned" and that "no one should be worried" about the state of the Turkish economy. Annual inflation has fallen from a high of over 85% in 2022 to 43.68% in April.

Erdogan said he sees no reason to raise prices as input costs are decreasing. "After the election, I hope we will see relief in the markets, growth in the economy and an increase in investments together," he said, according to Anadolu Agency. Erdogan will face opposition leader Kemal Kilicdaroglu in the runoff election on May 28.