The Economy Coordination Board held its second meeting. At the meeting, current macroeconomic developments and the budget outlook were evaluated. It was stated that the preparations for the Medium Term Program (MTP) would be reviewed, and macroeconomic targets and structural reform policies would be updated with the MTP, and a road map for the next three years would be determined.
The following points were highlighted in the statement made regarding the meeting:
The fiscal space to be obtained by strengthening our fiscal policy, which is based on fiscal discipline, with the understanding of savings in the public sector, will be used to increase the welfare of our citizens.
Excluding earthquake expenditures, an approach that will keep the ratio of budget deficit to national income at EU standards will be continued.
It will be ensured that all relevant institutions act in coordination regarding the earthquake, the total cost of which has reached 104 billion dollars, and that all institutions will prioritize the rehabilitation of economic and social life in the earthquake zone by making the necessary changes within the budgetary possibilities.
Our main macroeconomic goal in the upcoming period is to bring inflation down to single-digit levels again. In this context, the steps to be taken in areas not under the Central Bank’s responsibility for the continuation of financial stability along with price stability were discussed at the meeting.
Information was provided on the general framework of the monetary policy and the recent quantitative tightening steps, and developments on Currency Protected Deposits were evaluated.
At the meeting, the effectiveness of the state contribution to vocational training centers was specially evaluated, and decisions were taken to increase savings and efficiency.
The studies carried out to prevent stocking and unfair practices that have occurred in the automotive and food retail sector in a way that disrupts the supply-demand balance and the exorbitant price increases related to these have been evaluated.
In an environment of trust and stability, the fight against inflation will continue to be a priority, effective and decisive steps will be implemented in coordination, which will further strengthen high value-added production, exports and potential growth with qualified investments, support the increase in employment, and ensure a permanent improvement in the current account deficit by increasing savings.
