Business Standard

Turkey's Erdogan pledges to reduce inflation to single-digit level

Erdogan said they will increase salaries for civil servants by 30.5 per cent and they will ensure an inflation level-based increase in the pensions of the retired citizens

Erdogan

Turkish President Recep Tayyip Erdogan | File photo

IANS Ankara

Turkish President Recep Tayyip Erdogan has vowed to decrease the country's inflation back to single-digit levels after the annual inflation surged to 36.08 per cent, the highest since 2002.

"Whatever the reason is, we are in sorrow that our citizens are faced with such a picture," Erdogan said at a press conference after a cabinet meeting.

The government is determined to decrease the inflation to single digits as soon as possible, he said, recalling that they had managed to reduce to 6 per cent in the past, reports Xinhua news agency.

The civil servants and pensioners in the country will be supported by new economic measures, he said.

 

Erdogan said they will increase salaries for civil servants by 30.5 per cent and they will ensure an inflation level-based increase in the pensions of the retired citizens.

Salaries for any pensioners will not be lower than 2,500 Turkish Lira ($192), he stated.

--IANS

ksk/

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 04 2022 | 3:02 PM IST

Explore News