Turkish Finance Minister Nureddin Nabati said Monday, May 30 that preliminary indications show that the Turkish economy grew by 7% in the first quarter of this year, reaffirming his conviction that the rise in inflation in the country is temporary.
In a speech he delivered during the Banks Association meeting, Nabti said that the banking sector is capable of facing potential shocks.
The annual inflation rate rose to regarding 70% in April, and expectations indicate that it will remain high until the end of the year.
