We expect improvement in CAD and inflation: Vice President

Officials in Turkey forecast improvements in the country’s current deficit and inflation rate thanks to measures that have been taken, according to Vice President Fuat Oktay.

Speaking during a meeting of the country’s Economic Coordination Council, Fuat Oktay said coordination between institutions was a necessity for a stronger and resilient economy.

Oktay said the council, which was formed in June last year, will analyze the Turkish and global economies, economic stability, and development and will strengthen coordination between institutions.

The national economy grew by 7% in the first quarter of 2021 thanks to effective measures by authorities, he added, underlining that growth in the second quarter would be better still.

Oktay said the country’s exports would exceed USD 200bn at the end of the year, with a target of USD 210bn.

He also said that the country would reveal its new 2022-2024 Medium Term Program (MTP) this September.

The MTP focuses on economic and social policies to increase public welfare in line with development targets, he underlined.

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