Yased's Statement About Fighting Inflation

Ahmet Erdem, the Chairman of the International Investors Association (YASED) stated that the Program for Fighting Against Inflation prepared by the Ministry of Treasury and Finance includes solutions for ensuring stability in the economy and financial markets, he continued: “As YASED, we fully support the fight against inflation, which is a significant part of the current balancing period."

In his written statement, Erdem pointed out that the current deficit and inflation have recently increased in Turkey causing fluctuations in exchange rates, and that inflation reaching double digits, caused adverse developments in the real sector and money markets.

Erdem continued: "We consider the Program of Fighting Inflation, which was prepared by the Ministry of Treasury and Finance, is a package which will ensure stability in markets and will be highly important in fighting inflation that recently increased in parallel to domestic and foreign developments. We support this program fully. We believe that within the framework of this program, a full collaboration of the private industry and Turkish citizens will quickly bring success in terms of fighting inflation.

Turkey's need for foreign financing, and its insufficient rates of savings cause the risks and fluctuation of exchange rates we experience in the Turkish economy today. Therefore, we are very pleased that the fight against the current deficit and inflation is among the top priorities of our economic management.

As a country, we should pay attention to monetary and financial discipline to manage the fight against inflation, which has risen due to recent increased exchange rates and consumption-based rapid growth. As YASED, tasked with improving the business and investment environment of Turkey, and enhancing our global competitiveness and sustainable growth, we are dedicated to continue being a solution partner of the government. With our ultimate belief and confidence in Turkey's potential and future, as international investors, we believe with a strong coordination and solidarity between the public and private sector, we will leave behind this current challenging process very soon."

Best Regards
Ahmet Erdem
the Chairman of YASED (International Investors Association)

With contributions of Vodafone