Central Bank says ‘Turkish economy is resilient’

Dünya Executive - - OVERVIEW -

Supportive fiscal and macro-prudential policies have mitigated downside risks on the economy, the governor of the Central Bank said on Thursday. In a presentati­on made to investors at the Internatio­nal Monetary Fund and World Bank meetings in Washington, Murat Cetinkaya stressed that currency volatility had slowed shortly after monetary policies were tightened, according to a statement on the bank’s website. “The lagged impact of cost-push factors will ke ep inflation at elevated levels in the near term,” Cetinkaya said, adding that a tight stance in monetary policy would be maintained until the inflation outlook displayed a significan­t improvemen­t. Cetinkaya also noted that inflation was expected to peak in April before gradually coming down in the coming period. “Recent macroecono­mic developmen­ts indicate the resilience of the Turkish economy,” he said. “The contributi­on of exports to economic growth will increase throughout 2017.”

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