ANKARA (AA) – Turkey’s Central Bank governor said Tuesday that the nation’s economic activity continues to display a moderate, stable course of growth and that planned structural reforms will boost Turkey’s growth potential and improve perception.
Speaking at a press conference for the release of the Central Bank’s quarterly inflation report, Governor Murat Cetinkaya said the bank will continue financial support measures amid temporary uncertainty with a limited impact.
“The Central Bank will continue taking extra measures to support financial stability if needed,” Cetinkaya said.
He said the inflation rate will fluctuate between 6.6 percent and 8.4 percent through the end of 2016. “The midpoint in 2016 will be 7.5 percent and 6 percent in 2017,” he said.
Turkey’s gross domestic product (GDP) grew by 4.8 percent in the first quarter of 2016 compared to the same period last year, making Turkey one of the fastest-growing economies in Europe and among Organization for Economic Cooperation and Development (OECD) members.
