Minister Nabati: We will gradually achieve price stability

Treasury and Finance Minister Nureddin Nebati stated that price stability will be achieved gradually in his presentation to the AK Party deputies. Nabati said that in order to reverse the dollarization, it will no longer be possible to generate income from foreign currency.

Nureddin Nebati, Minister of Treasury and Finance, said, “As we are net importers, oil and natural gas prices should decrease so that our effectiveness in dealing with inflation will be rapid. Playing on exchange rates should be minimized so that it is effective. Now that we have achieved these, inflation has tended downwards, and we will have achieved price stability gradually – we do not do it suddenly, on purpose -” he said.

According to the news of Bloomberg, Nebati, who made a presentation to the AK Party deputies, on a question about reversing the dollarization, said, “There is only one way to get rid of the currency. Increasing the belief that earning income from foreign currency will no longer be realized and creating alternative areas while doing this. The law on Islamic financial institutions should be passed as soon as possible. Turkey is a Muslim country. Many people in Turkey do not want to benefit from interest instruments. He also wants to protect his money. To where? When you don’t invest interest, there are two areas left. He used the terms “either in foreign currency, in gold or in real estate”.