Central Bank of Turkey - Annual Report 2007
Fiscal policy has made a modest contribution to disinflation in 2007, said Durmus Yilmaz, the governor of the Central Bank of the Republic of Turkey, in the latest Annual Report.
Yilmaz said that fiscal policy's impact on disinflation was mainly driven by the rebound in government spending and the increased special consumption tax on tobacco and fuel products. The governor then stressed that in order to achieve the inflation target, tighter fiscal spending, along with more effective arrangements
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