ISTANBUL, Jan 15 (Reuters) – Finance Minister Nureddin Nebati stated on Saturday inflation in Turkey will come right down to single digits by the point of presidential and parliamentary elections set for mid-2023, after it soared to a 19-year excessive of 36% in December.
Talking to heads of non-governmental organisations in Istanbul, Nebati additionally stated the conversion of foreign exchange holdings to Turkish lira will speed up in coming weeks.
He added that as of Friday evening greater than 131 billion lira ($9.69 billion) had been deposited in accounts underneath a authorities scheme that protects lira deposits from foreign exchange depreciation.
($1 = 13.5214 lira)
Register now for FREE limitless entry to Reuters.com
Reporting by Ali Kucukgocmen
Modifying by Mark Heinrich
Our Requirements: The Thomson Reuters Trust Principles.