Bloomberg News

Simsek Says Turkish Fiscal Plans Will Support Central Bank

October 03, 2011

Oct. 3 (Bloomberg) -- Turkey’s budget plans will provide support to the central bank and help keep the inflation rate below 10 percent, Finance Minister Mehmet Simsek said.

While the fall in the value of the lira may have a short- term impact on inflation, falling domestic demand means the pass-through will be limited and there’s no medium-term danger to inflation, Simsek said in televised remarks from Ankara today.

Officials worked through the weekend on the country’s new medium-term economic plans, which will be announced at a news conference when they’re ready, Simsek said.

To contact the reporter on this story: Ali Berat Meric in Ankara at americ@bloomberg.net

To contact the editor responsible for this story: Steve Bryant at sbryant5@bloomberg.net


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