Site icon

Minister Nabati: We do not perceive inflation as in the world

Minister of Treasury and Finance Nureddin Nebati stated that Turkey, due to its geographical location, is a corridor for energy from Russia, Iran and Saudi Arabia, “All kinds of natural gas and oil can be transported more cheaply and safely.” used the phrase. In an interview with Arab News, Nabati stated that Turkey wants to cooperate more with Saudi Arabia and other countries on the way to become an energy base. Pointing out that Turkey, due to its geographical location, is a corridor for energy from Russia, Iran and Saudi Arabia, Nabati made the following assessment: “All kinds of natural gas and oil can be transported more cheaply and safely. Turkey and Saudi Arabia, they support each other to bring peace to the region. Peace will make natural gas and energy prices more reasonable. When we look at Europe, they are dependent on Russian gas and will spend the winter under great stress. It is now imperative to take new steps and restructure. He said that necessary measures should be taken for Turkey, which will become a center, to distribute Iranian and Russian gas to Europe. This will contribute to the realization of peace in the region and create a safe environment for energy transmission. This is the leading solution to the high prices that lead the world to recession. In this sense, as our President said, Turkey is ready to assume all responsibilities, It is good to comment that it is ready to take a step to relieve the whole world, especially Europe, in this gas struggle.”

“We will contribute to the peace and prosperity of the region”

Stating that Turkey has a natural gas production strategy, Nebati reminded that Turkey has found an important natural gas reserve in the Black Sea and will start using this gas within the next year. Emphasizing that in the coming period, the cooperation between Saudi Arabia and Turkey will create new areas of cooperation within the framework of Turkey’s 2023 vision and Saudi Arabia’s vision for the future, Nabati said, “We will start a new century and contribute to the peace and prosperity of the region.” used the phrase. Nabati also pointed out that Turkey supports Saudi Arabia’s candidacy for 2030 Expo and that the two countries support each other in the fight against terrorism. Evaluating the recent meeting between President Recep Tayyip Erdoğan and Crown Prince Mohammed bin Salman, Nabati noted that the meeting will be beneficial for both sides, and as a result, investment, business relations and trade volume will increase in favor of both sides. Nebati also evaluated economic growth and emphasized that growth was achieved thanks to “domestic trade, foreign trade” and “balanced growth”. Minister Nebati stated that this shows his appetite to be a center in the production and manufacturing sector. Stating that the Turkish Economy Model is based on investment, production, employment and exports, Nebati said, “The fall in goods and energy prices in the coming period will contribute to the establishment of the balance in the current account deficit and will enable Turkey to solve all the difficulties we have been experiencing since last year.” used the phrases.

“We do not perceive inflation as in the world”

Noting that the Turkish economy has been supported by large investments in the field of infrastructure in the last 20 years, Nebati said, “We have completed our important infrastructure investments such as railways, highways, airports and sea ports. All our infrastructure investments in education and health, from primary schools to universities, have been completed.” made its assessment. Stating that the rate of localization of products in Turkey has also increased, Nebati said that while this rate was 20 percent in the defense industry in the past, it has reached 80 percent today. Stating that inflation has increased in Turkey since last year due to the increase in commodity prices as well as transportation costs and energy prices, Nebati said: “We focused on people to fight inflation. We want growth, but we do not want people to lose their jobs. We want production and efficiency to continue. We want energy prices to continue. “We are lucky that the pressure on people is lessened. We do not perceive inflation as it is in the world. We see it with a human-based approach. We do not want people to lose their jobs. We will do our best to ensure that they do not lose their jobs.” Stating that inflation will slow down in December and 25 percent inflation is targeted for next year, Nebati stated that they are determined to solve this issue. Explaining that the prices of agricultural products have decreased, Nebati pointed out that the effect of last year’s foreign exchange attacks on inflation has decreased. On the other hand, Nabati, who had many meetings with Saudi officials, including the Ministers of Finance and Trade of Saudi Arabia, stated that the steps that Turkey will take will help reduce transportation and energy costs.

Anton Kovačić Administrator

A professional writer by day, a tech-nerd by night, with a love for all things money.

follow me
Exit mobile version