The Turkish Ministry of Finance predicted inflation at the level of 48-49% in the country by the end of 2022

“By the end of 2022, according to forecasts, inflation will be 48-49%,” Nebati said, quoted by the Milliyet newspaper.

By the end of 2023, inflation in Turkey is expected to reach 19.9%, he predicted.

Nebati also stated that "in the short term, neither an increase in the interest rate (of the Central Bank of Turkey. -

), nor its reduction is considered."

Earlier, Turkey's ruling Justice and Development Party (AKP) nominated incumbent Turkish leader Recep Tayyip Erdogan as the People's Alliance candidate in the 2023 presidential election.