Turkey maintains a restrictive monetary policy and fiscal discipline to combat inflation, says Vice President Cevdet Yılmaz.

Turkey will continue to adopt a restrictive monetary policy and maintain fiscal discipline to combat inflation, said Vice President Cevdet Yılmaz.

Consumer inflation rose by 4.84% in January, exceeding expectations, in the context of rising food prices and price adjustments. Although the annual inflation rate has decreased to 30.65%, Yılmaz emphasized that this reduction is not sufficient. The government intends to implement additional policies to help lower prices. The Central Bank of Turkey recently cut the key interest rate by 100 basis points but has relaxed monetary policy by 1,300 basis points since 2024, which affects producers and the country's export goals.