“The biggest problem facing the Turkish economy today is high inflation,” said Finance Minister Nureddin Nebati. “Our food inventories are at a sufficient level,” said Nevaty, who argued that the rhetoric of not having enough produce in stock was an operation.
Treasury Minister Nureddin Nebati gives a general assessment of all recent practices, including the latest status of Turkey’s food supply, money stored in currency-protected deposits, and under-pillow practices. I did it.
“The biggest problem facing the Turkish economy today is high inflation,” Nevaty told 0054HA. Therefore, we are aware of high inflation, curb it and share it with the general public when it is completed. We are doing a lot of research for this.
Nabati also talked about the current food supply.
“Necessary steps have been taken” to ensure supply security and uninterrupted imports, Nevati said, and the next pre-harvest rain is on track, with food in Turkey. He added that he believes there will be no shortage. future.
“Our food inventories are at a sufficient level,” said Nevaty, who argued that the news of a shortage of various agricultural inventories was an “operation.”
Regarding the “necessary measures” he mentioned, Nabati said:
“Grain imports and sunflower oil imports for flour and feed regulation to balance the domestic supply and demand of the Turkish Grain Commission (TMO), which is wholly owned by the Ministry of Finance, and to prevent price increases as much as possible. Is continuing, and our ministry is providing financial support to the organization. “
“A sense of unity is announced to bring benefits to the application.”
Nevaty shares his ongoing commitment to a project called “From Unity to Berekete” aimed at raising consumer awareness of price fluctuations, and will announce soon, allowing consumers to compare prices. By creating a capable system, the scope of the project will raise consumer awareness and give consumers easy access to affordable products.
Nevaty, meanwhile, emphasized that he is closely monitoring whether prices reflect measures taken within the fight against inflation, saying:
“Companies are scrutinized and inspected through field inspections by an inflation fighting team established within the organization of our ministry. For companies with exorbitant prices and stockpiles, on a legal basis. Strict measures have been taken based on this.
In addition, the Price Stability Committee will discuss in detail research on the structural factors that carry the risk of exceeding inflation.
In addition, we use the KGF package we have implemented to selectively support companies and exporters investing without creating an inflationary effect. “
Nabati also touched on how rising commodity prices after Russia’s invasion of Ukraine would affect Turkey.
“Unfortunately, the country imports more than 90% of petroleum products,” said Nevaty.
“As is known, oil purchase and sale prices are shaped according to the most accessible global free market conditions, and price monitoring is carried out by EMRA in this framework. Fuel prices are international. It is formed based on the oil price determined by the market.
Due to Ukrainian trends, oil prices rose from $ 77 at the beginning of the year to $ 130. This rise is inevitably reflected in fuel prices. As a state, we are taking the necessary steps to ensure that these increases are not permanent and are not reflected to the public as much as possible. “
557 billion TL recorded by KKM
Nevaty also talked about the amount of money stored in currency-protected savings accounts.
“We are witnessing rising inflation around the world due to rising commodity prices, Nevaty said:
“In this regard, we have introduced innovative and comprehensive methods such as currency-protected deposits. Therefore, 557 billion lira will be accumulated in currency-protected deposit accounts, 56% of which will be converted to foreign currency. (UAV)