'Turkey to see single-digit inflation by 2019'

By Tuba Sahin

ANKARA

Treasury and Finance Minister Berat Albayrak on Friday said the inflation and interest rates will decrease to single-digits by 2019.

In an interview to Turkish broadcaster NTV, Albayrak said consumer prices in Turkey will see a downward trend by the end of 2018.

"We aim to discipline both inflation and interest rates and reduce them to single-digits," Albayrak said and added that concrete steps were taken.

Consumer prices in Turkey went up by 15.85 percent in July compared to the same month last year, the Turkish Statistical Institute (TurkStat) announced on Friday.

Albayrak stated that an unprecedented, more solid and production based growth oriented Medium Term Program (MTP) will be unveiled in the first half of September.

He said the new MTP will firmly support the target of "great and strong Turkey".

Regarding the U.S. move to impose sanctions on two Turkish ministers following tension over an American pastor, who faces terrorism charges in Turkey, Albayrak said problems may occur but relations should be maintained through diplomacy.

Stating that Foreign Minister Mevlut Cavusoglu's meeting with his U.S. counterpart Mike Pompeo in Singapore, Albayrak said a strong will was displayed to improve relations.