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Turkey determined to bring inflation down to single digit: Erdoğan

President Recep Tayyip Erdoğan on Wednesday vowed to succeed in bringing inflation down to a single digit, saying country is ‘determined.

Consumer prices in Turkey rose 15.72% on an annual basis in June, the country’s statistical authority announced on Friday.

The annual inflation rate last month fell from 18.71% in May, according to TurkStat.

As laid out in Turkey’s new economic program announced last September, this year country’s inflation rate target is 15.9%, followed by 9.8% next year and 6% in 2021.


Central Bank head failed to perform his duties

Erdoğan also said the country’s Central Bank governor was recently dismissed due to his failure to carry out his duties.

Recep Tayyip Erdoğan’s remarks came at a union gathering organization held in Ankara.

“Had the Central Bank properly played its role in economic policy as expected, this removal would not have happened,” Erdoğan said.

Early last Saturday, Murat Çetinkaya was dismissed from his post as Central Bank governor via presidential decree, to be replaced by his deputy Murat Uysal.

The move was defended by the ruling Justice and Development (AK) Party on the grounds that it was “within the rights entitled to the president.”

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