President Erdogan’s message on inflation and reserves

President Recep Tayyip Erdoğan, on his return from his visit to Saudi Arabia, welcomed Kanal7 editor-in-chief Dr. He answered questions from members of the press, including Zahid Akman. Asked about the development of the economy, President Erdoğan said that their goal was to lower inflation and that inflation would start to fall after May.

President Erdogan: “We have agreed to reactivate great economic potential with organizations that will bring our investors closer to Saudi Arabia.” mentioned.

Titles of Erdogan’s statements;

QUESTION: How do you assess where we are on the roadmap in Turkey’s fight against inflation? Do you think the peak has been seen?


Inflation is a problem not only in our country, but everywhere, especially in developed countries due to the deterioration of the global economy. When you look at America or Europe today, the highest levels of inflation are observed. There are also periodic effects, of course. Of course, we are aware of the problems this problem creates for our citizens and we try to do whatever is necessary to eliminate them. We are closely monitoring all developments and taking the necessary precautions. May our people rest in peace, we will overcome this problem. Our objective is to reduce inflation. Hopefully with the steps we have taken and will take, it will start to regress after May. I can tell this will result in a more positive direction towards the end of the year.

QUESTION: The Central Bank has updated its inflation forecast for the end of the year to 42%. In the most critical period of the election, between March and June 2023, inflation seems to remain around 25% with an optimistic forecast. Here, in terms of communication management, what type of medium and language are you going to use, especially to prevent the public’s fight for this cost of living and this livelihood from affecting the ballot boxes and the behavior voters?

The other point is that I may maintain the exceptional TÜSİAD, but I do not see any concrete, internalized and sincere support for the Turkish economy program, which has been implemented since September and especially in December, in non-governmental organizations , especially TOBB. In every program, there’s a knock on your door, you go to every meeting. But it looks like a lonely fight.

We have the best staff in the country who take the pulse of the streets and understand the state of the citizens. We know the problems and concerns of each of our employees and we are always there to solve their problems. Fortunately, our fellow citizens also trust us. Our nation knows that the AKP Party will overcome this inflation problem. We have lowered inflation to single digits before, we will lower it again. The best communication from this company will be to see inflation come down and hopefully we will get there.


Without a doubt, everyone must lead the struggle in the field of the economy in mobilization, shoulder to shoulder. Of course, we have business people who transform what they earn in this country into investment, production and employment for this country. It is also evident that the business community is broadly supportive of our economic policies. However, TÜSİAD’s question “How can we contribute to the future of the country?” he has no problem. On the contrary, “How can we take the current power? How can we bring a power that we can comfortably use?” they have a problem. But during this 20-year period in Turkey, they have earned money with us, they have earned growth with us. Right now, growth is heading towards 7%, thank goodness. There is such a situation. Nobody talks about them. We are not a country that has negative growth or anything. While we say that taking the average at 5% is a success, we are now heading towards 7%. As you know, we have an economy where we have exceeded that in terms of growth. Now, I hope we will continue this business successfully with 7%. In this process, which will take us to 2023, we will take the necessary steps and hopefully continue our journey here without causing any problems.


In this regard, we have no problem with our foreign exchange reserves. When we came to power, our foreign exchange reserves were 27.5 billion dollars, but now we have reached 120 billion dollars and we have even exceeded them and we will go. We are in such a position. Hopefully this process will continue successfully.

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