Türkiye’s prime financial officers convened Wednesday to debate measures geared toward increasing the nationwide housing provide, in keeping with an official assertion, amid persistent pricing pressures in the actual property market.
The Economic Coordination Board (EKK) additionally reviewed the efficiency of the federal government’s almost two-year-old financial program, which has primarily targeted on tackling inflation, the assertion stated following the assembly.
Chaired by Vice President Cevdet Yılmaz, the board contains ministers of finance, commerce, labor, vitality, business, and agriculture, together with senior officers from different key financial establishments, together with the central financial institution.
Wednesday’s assembly marked the board’s fourth this yr.
Aggressive financial tightening since mid-2023, mixed with favorable vitality costs, has helped scale back Türkiye’s annual inflation fee by half over the previous yr.
The inflation lastly dipped to 35.4% in May, in comparison with round 75% a yr in the past.
The EKK emphasised that the disinflation course of, which started in June 2024, stays on monitor. It credited the financial program with strengthening Türkiye’s macroeconomic foundations and enhancing the resilience and dynamism of the financial system.
The board additionally evaluated structural reforms within the housing, meals, and vitality markets. Discussions included insurance policies to enhance Türkiye’s export competitiveness, in an effort to mitigate the financial affect of rising international uncertainty and commerce protectionism.
The vitality sector – one of many key contributors to Türkiye’s present account deficit – was one other key business assessed by the officers, who mentioned insurance policies to cut back exterior dependence and bolster provide safety.
The board reviewed latest developments in housing and rental costs and regarded concrete steps to spice up housing provide, the assertion famous. In latest years, affordability considerations have intensified for households amid hovering housing prices.
The EKK additionally underscored ongoing efforts below the brand new Investment Incentive System, which goals to advertise value-added investments and foster regional improvement.
Source: www.dailysabah.com