In a statement, it announced a decline in inflation by 39.59%, its lowest decline in seventeen months, which was 43.68%. Observers believe that one of the reasons for this decline is the initiative of Turkish President Erdogan, which includes free natural gas for kitchens and heating water for citizens’ homes for a month, free of charge. 25 cubic meters for one year, after the amount of natural gas reserves discovered in the Black Sea reached 710 billion cubic meters. The decision was published by presidential decree in the Official Gazette on April 24, 2023, and it entered into force after its publication, and after the free month, i.e. on the 31st of April. May 2023 and until the first of May 2024, a free 25 cubic meters will be applied for a period of one year, and this decision has led to compensating for the rise in the prices of goods and services, and the decline will continue with the continuation of the implementation of this decision.
After President Erdogan won a second term of five years, it was in his electoral program to reduce inflation, and the first signs of achieving this trend appeared in the selection of Mr. Mehmet Simsek as a minister in Mr. Erdogan’s government for the finance portfolio, as this man is seen as having a financial and economic mentality and he can take steps to strengthen Turkish economy.
– Head Quarter Legal Adviser.
