During a meeting with young Africans on Saturday, Erdogan reiterated his view that interest rates cause inflation, adding that he hopes inflation will drop soon.
“Sooner or later, just as we lowered inflation to 4%, when I came to power, we will lower it again, we will make it go down again. I will not allow interest rates to crush the citizens,” Erdogan said.
“God willing, inflation will begin to decline soon,” he added.
Inflation fell to about 4% in 2011, before starting to gradually rise from 2017. It jumped 3.5% in November to 21.3% annually.
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