"New economic model" from Turkish Ministry of Treasury

NEWS CENTER - TheMinistry of Treasury and Finance announced that inflation is expected to fall to a single digit as soon as possible and the current deficit will be stabilized around 4 percent.

The Ministry of Treasury and Finance announced that the new economic model will be announced on Friday. It was emphasized that companies and banks are not exposed to exchange rate and liquidity risks, inflation is expected to fall to a single digit as soon as possible, and the current account deficit is expected to stabilize around 4 percent.

In the statement made by the ministry, it was stated that the work on the medium-term plan announced earlier was continuing at full speed.

The current account deficit is expected to stabilize around 4 percent

In the description, the following was recorded:

"Within the scope of the Medium-Term Plan, a strong policy union and measure set for OVP will be planned in the near future for the shortest period of inflation to be in the range of 3 percent to 4 percent of the growth of 2019. The current account deficit is expected to be stabilized at around 4 percent.

The budget deficit will be limited to 1.5 percent

The savings program initiated this year in the public sector will continue in the mid-range. The budget deficit will be limited to 1.5 percent, especially in infrastructure investments, with foreign financing and foreign investor conditions.

Treasury debt rollover rates will be lower than 100 percent

"With savings in the public and balanced economic structure, treasury debt rollover rates will be reduced to less than 100 percent," said Turkish Ministry of Treasury and Finance. (ILKHA)