Europe News Desk!! Turkish President Recep Tayyip Erdogan has launched his re-election campaign with a pledge to reduce inflation to below 10 percent and boost economic growth. “We will bring inflation back to single digits, and of course, we will save our country from this problem,” Erdogan told his supporters at an election campaign event in the capital Ankara, Xinhua news agency reported. Elaborating on his party’s election manifesto, Erdogan said the ruling Justice and Development Party (AKP) aims to achieve annual economic growth of 5.5 percent between 2024 and 2028, so that by the end of 2028 the gross Domestic Product (GDP) could reach 1.5 trillion dollars. In the coming times, with an annual growth rate of 5.5 percent, we will increase our national income to $15 trillion, and then our next target will be $20 trillion, he said.
After two decades of rule, Erdogan is seeking another term in the presidency in May 14 elections, while a faltering economy with high inflation and a weak currency is one of his biggest challenges. In October last year, Turkey’s annual inflation rose for the 17th consecutive month to 85.5 percent, causing a sharp decline in people’s purchasing power. The rate dropped to 50.5 percent in March. Erdogan promised to always increase their salaries above the inflation rate for the welfare of employees, civil servants and retirees. The government also provides additional financial assistance to help families earn a steady income. We will set up a Family and Youth Bank, funded by our natural gas and oil income, to contribute financially to youth, encourage them to start their own families, help them with their education, employment and child care, he said . Erdogan said his government would focus on investment, production and exports to spur growth, aiming to increase foreign trade to $1 trillion.
–IANS
World News Desk!!
PK/AKJ