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Minister Nureddin Nebati: ‘Our economy demonstrates sustainable growth’

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The 21st Ordinary General Meeting of the Turkish Subsidiary Banks Association (TKBB) was held in a hotel in Istanbul Kadıköy. Nureddin Nebati, Minister of Treasury and Finance, and many senior executives in the branch attended the General Delegation meeting.

“THE WORLD IS FACED WITH THE HIGHEST INFLATION RATES OF THE LAST 40 YEARS”

Speaking at the meeting, Minister of Treasury and Finance Nureddin Nebati said, “We are in one of the most burdensome periods of all time due to many problems that started with the global epidemic and deepened with the Russia-Ukraine war. Power, rising commodity prices, transportation costs cause inflation to reach record levels all over the world. The year 2022 will pass with these discussions, and these issues will be on the agenda of our country and the world. The whole world is facing the highest inflation rates in the last 40 years. We use our resources most actively and subsidize costs in the face of global developments and increases in production costs. We support our industrialists, we continued to support them. We continue to support our citizens with the natural gas we currently use in households. Despite the current global setbacks, our country continues to grow and leading indicators show that strong and stable growth continues in the first quarter. We break record after record in exports every month. Except for power, our exports have surpassed our imports. With the prestige of March, our total employment has exceeded 30 million. Our economy clearly demonstrates organic and sustainable growth. We are aware of the value of financial stability in achieving our macroeconomic goals.

“WE WILL GO AGAINST WHO MAKES WRONG”

Continuing his speech, Minister Nebati said, “We have largely prevented the fluctuations in foreign exchange prices, which are the valuable determinants of inflation, with the KKM and supporting instruments, now it is time to correct the expectations. We have largely balanced the price fluctuations in exchange rates, which are the valuable determinants of inflation. Our aim is to regulate inflation. We have been holding one-to-one meetings with the relevant sector organizations for days, we put the numbers in front of them, we put the development and growth in Turkey in front of them, we share the data on the field and where the departments are coming from. We reveal and share the data of the employees in order to create a benefit for their troubles in the realities of the country and in the world with a group of accounts on short-term profitability. We all live in this country, we all earn together, our profit is profit maximization, especially the whole real branch and financial sector. We have an effort, this effort is to bring inflation under control in Turkey and to progress in line with our goals. We will do it, we will do it with those who are with us. We are among those who believe that mercy comes from unity. We will also deal with the wrongdoer,” he said in the form.

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