Regarding the currency-protected deposit application, Minister of Treasury and Finance Nureddin Nebati said, “Since the countries that are in conflict with each other in our close geography are our important trade partners, the additional stress arising from this has the potential to affect our economy more than other economies. In addition, especially in energy importing countries like us. Rising commodity prices are putting significant additional pressure on exchange rates. In these challenging conditions, the fact that the volatility of the exchange rate has decreased rather than its level is a positive indicator for us. Our studies show that; The volatility implied by the exchange rates would have been much greater if the KKM application had not been implemented.” said.
“IF KKM WAS NOT IMPLEMENTED, THE EXCHANGE DRY LOAD WOULD INCREASED”
Stating that scenario analyzes are carried out regularly under different assumptions regarding variables such as interest and exchange rates, Nebati stated that inflation developments are taken into account in order to see the real effect in the scenario analysis. Noting that the budget realizations of the past period are compatible with the baseline scenario analysis, Nebati said that cost-benefit analysis was made during the design phase of KKM and then implemented. Nabati,The realizations so far confirm how accurate this step is. As a matter of fact, if the KKM instrument had not been implemented, the burden on various areas of our economy would have been much greater, especially through exchange rate developments. All objective analyzes will clearly reveal this,” he said.
“OUR FIGHT WILL CONTINUE”
From Hürriyet to Neşe Karanfil Minister Nebati said, “Our struggle will continue until we reach our ultimate goal of permanent price stability by acting in coordination with all institutions of the economy. I would like to express once again that we expect the support of all our stakeholders, from industrialists to exporters, from traders to tradesmen. In addition, until we reach our final goal.” We will continue our similar practices that support and protect our citizens against the cost of living.”