Turkish President Tayyip Erdogan said on Saturday Turkey's inflation rate would fall to 6 or 7 percent from the current 19-20 percent but did not clarify how he aims to reach the goal. Delivering an election campaign speech in the northeastern city of Rize, Erdogan did not specify a timeline for his anti-inflation plan but appeared to be speaking about the period after local polls on March 31.
"The Turkish central bank's foreign exchange reserve was 100 billion dollars (when we took office)," Erdogan said. "We will go further as our central bank is strengthening again. The inflation rate will fall back to 6 to 7 percent. An inflation rate of 19 to 20 percent does not suit us."