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Turkish Finance Minister: We will meet 8.5% inflation target

Turkey's finance minister expects Turkey will “calmly” meet its 8.5 percent inflation target this year, Turkish private broadcaster Sien-Turk reported.
In Berat Albayrak's words, the country has ended 2019 with economic growth above expectations. “We will witness an even better first quarter compared to last quarter,” he declared.

According to Finance Minister, the PMI Supply Managers Index (PMI), which measures business activity and is considered a good indicator of the state of the economy, has reached a record high in the last two years, BTA reports.

Albayrak stressed that Turkey has taken the necessary measures early in relation to the new coronavirus. There is still no registered case of Covid-19 in the country.

"We are at a stage on a side firmly standing on our feet. This is just the beginning, it will get better, “the minister said.

He pointed out that the government had drawn up a new financial programme to support employment, value added and exports, aimed specifically at supporting the textile and confection sector.

The Turkish government predicts inflation of 8.5 percent for the current year, 6 percent for 2021 and 4.9 percent for 2022.