Will the 25 percent limit on rent increases in Turkey continue?

In a recent interview on TRT Haber, Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, addressed several economic issues, including the regulation of rent increases. When asked about the continuation of the 25% cap on rent increases, Şimşek did not provide a definitive answer.

In reply to said question the Minister shared his opinion by saying, “I do not see any reason for it to continue; I think it should not continue, and there is no work being done in favor of its continuation. I think it is very likely that it will not continue.”

I THINK IT SHOULD NOT CONTINUE

Şimşek further elaborated, “I do not see any reason for it to continue; I think it should not continue, and there is no work being done in favor of its continuation. I believe prices should not be intervened with in the market.”

IF WE DID NOT PURCHASE FOREIGN CURRENCY FROM THE MARKET DOLLAR TL RATE MIGHT FALL BELOW 30

Additionally, as a very important remark Şimşek commented on the current state of the Turkish lira, stating that if the government did not purchase foreign currency from the market, the lira might fall below 30 against the dollar. He emphasized the need to strengthen Turkey’s foreign reserves.

It is also noteworthy that Turkey’s financial management and the Central Bank remain determined and ambitious in their efforts to reduce inflation to single-digit figures.