Cevdet Yılmaz's Statement on October Inflation!

Vice President of the Republic Cevdet Yılmaz participated in the discussions on the 2026 Central Government Budget and the 2024 Final Account Bill, responding to questions from lawmakers. During this meeting, he made important assessments regarding the inflation rate for October. Yılmaz emphasized that the inflation rate for October would play a decisive role in year-end forecasts.

Another topic frequently raised in inter-institutional communication was the currency-protected deposit (KKM). Yılmaz stated that KKM accounts do not significantly occupy the balance sheet of the Central Bank. Additionally, he noted that the share of KKM in total deposits has considerably decreased. Yılmaz expressed that, at present, KKM accounts are entering a liquidation process and that the Central Bank has not allowed the opening of new accounts.

Yılmaz pointed out that a system with these characteristics is not permanent, emphasizing that KKM was initially implemented as a temporary regulation. However, he indicated that this temporary regulation provided a momentary solution to economic dynamics. Yılmaz stressed that the costs associated with KKM, as well as the benefits it provided to society, should also be taken into account.

Yılmaz's statements during the meeting generated significant interest in the sector regarding the future of the economy and inflation forecasts. When the inflation figures for October are announced, the impact on year-end targets will be better understood. Yılmaz noted that it is difficult to make a definitive statement regarding this issue without seeing the October inflation figures.

In summary, Vice President Yılmaz drew attention to his thoughts on how the current situation of KKM may affect year-end forecasts concerning the October inflation rate. These developments, which could be an important indicator for investors and economic observers, will be carefully monitored in the coming periods.