ANKARA - A Turkish state minister announced on Thursday that Turkey was ranked the 59th in the world inflation list.
Turkey`s State Minister Mehmet Simsek said that Turkey was ranked the 59th in the world in regard to its inflation figure.
"We are the 59th in the world despite our inflation figure, which is said to be fairly high at the beginning of this year," Simsek said at a financial administration meeting in the Turkish capital of Ankara.
Simsek said that Turkey was ranked in between fourth and tenth places in inflation listing in 1990s, but told participants of the meeting that the country had made great success in macro-economic stability since 2002.
The state minister said that Turkey had caught up with EU standards in reducing the public debt stock, and expressed Turkey`s determination to fight against inflation.
"What is important is that Turkish economy has been growing uninterruptedly for 24 quarters," he also said.
On May 2nd, the Turkish Board of Statistics announced the 12-month inflation in consumer prices as 9.66 percent and 14.56 percent in producer prices.
(BRC-AÖ)