Nureddin Nebati

Treasury and Finance Minister Mehmet Şimşek has revealed that the government's economy program will focus on three main factors with an aim to fight inflation and bring financial stability to the country.

Türkiye is accelerating efforts aimed at obtaining additional foreign resources for the country in order to further strengthen its reserves, Treasury and Finance Minister Mehmet Şimşek said.

The Central Bank's net international reserves surged by $8.5 billion last week, Şimşek added in a post on Twitter, noting that this was the largest weekly increase ever on record.

Turkish banks and the country's banking industry are resilient and sound, the top economy official and regulators have said in separate statements.

The cost of the FX-protected deposit account (KKM) scheme on the budget continues to decline, Treasury and Finance Minister Nureddin Nebati has said.

The volume of deposits under the KKM reached 2.3 billion Turkish Liras (around $120 billion), Nebati wrote on Twitter.

Falling for a sixth consecutive month, Türkiye's annual consumer inflation rate slowed to a 16-month low of 43.68 percent in April, according to official data released yesterday.

April's figure, announced by the Turkish Statistical Institute (TÜİK), was down from 50.51 percent in March.
The inflation rate was 69.97 percent in April 2022.

The government will reconsider the minimum wage level in July, Labor and Social Security Minister Vedat Bilgin has said.

He noted that inflation has started to decline but prices continue to increase.

Treasury and Finance Minister Nureddin Nebati has slammed the leader of the main opposition party over his comments on the foreign direct investments (FDI), saying that FDI inflows into Türkiye soared in the past two decades.

The Supreme Election Board (YSK) has given a green light for the ministers to continue their political campaigning for the parliamentary elections while continuing their jobs.

The YSK'S decision came upon an appeal by the opposition parties who recalled that the ministers should resign from their jobs if they want to run for the parliament just like any other civil servant.

Political parties submitted their parliamentary candidate lists for May 14 polls to the Supreme Election Board (YSK) on April 9.

The annual inflation rate will decline below 50 percent in May and fall further in the following months, Treasury and Finance Minister Nureddin Nebati has said.