Turkish Finance Minister Lutfi Elvan said on Friday he expected Turkey’s economy to grow more than 8% in 2021, and added that he expected the current account deficit to be around 3% of GDP this year.
President Tayyip Erdogan has said he hoped Turkey’s economy could grow more than 7% this year and that he expected inflation to fall after August.
Speaking to businesspeople in Kocaeli, Elvan repeated that inflation was expected to fall significantly in the last quarter of the year, and that curbing inflation was a priority. He also said Turkey would not compromise on fiscal discipline and that fiscal policies would support price stability objectives.
Photo: People wearing face masks sit on a ferry as they pass the Bosphorus in front of the Suleymaniye mosque during the sunset in Istanbul, Turkey. EPA-EFE/ERDEM SAHIN