August 10, 2018 / 1:01 PM / a year ago

Inflation and growth not alternatives to each other, Turkey's Albayrak says

ISTANBUL, Aug 10 (Reuters) - Turkey does not see inflation and growth as alternatives to each other, Treasury and Finance Minister Berat Albayrak said on Friday, adding that the next steps of economic rebalancing would entail lowering the current account deficit and improving trust.

Speaking at an presentation to outline the government’s new economic model, Albayrak also said there would be a strategic period where steps on reducing the current account deficit would be taken.

He said there would be a “transformation” in the finance ministry with regards to taxation. His comments did little to shore up the lira currency. It was at 6.2 to the dollar at 1254 GMT, nearly 12 percent weaker on the day. (Reporting by Humeyra Pamuk and Ezgi Erkoyun; Writing by David Dolan Editing by Dominic Evans)

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