ISTANBUL (Reuters) – Turkish fiscal policy will not add to inflationary pressure as the country begins to experience some disinflationary relief in the second half of the year, President Tayyip Erdogan said on Saturday.
Addressing the Foreign Economic Relations Board, Erdogan said annual inflation should peak in May before cooling, echoing the forecasts of the central bank and offering his latest endorsement of the economic programme.
“We will enter a disinflationary period in the second half of the year. We will not allow for inflationary pressures through fiscal policy,” he said.
Annual consumer price inflation was near 70% in April and is expected to touch about 75% this month.
(Reporting by Azra Ceylan and Jonathan Spicer; Editing by Kirsten Donovan)
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