Turkey is committed to implementing economic reforms, Treasury and Finance Minister Lütfi Elvan told ambassadors of European Union countries in a videoconference late Friday.

"We are going to tell all of our counterparts about how committed we are to the reforms," he said.

President Recep Tayyip Erdoğan last month outlined a series of measures that he said would boost the country’s economy, as he pledged to bring inflation back down to single digits.

Under the package, Erdoğan said he would focus efforts to reform Turkey’s economy on bringing down inflation and tightening state finances as well as increasing the country’s potential growth through productivity driven by investment, employment and exports.

He also announced plans to set up coordination committees on prices, financial stability and the economy to navigate the changes.

Erdoğan has said the priority would be fighting against the rise in consumer prices, with the aim of reaching single-digit inflation.

"An agenda point of priority is the battle with inflation. The goal is single-digit inflation," he said, adding that an "early warning system" was being developed for food prices.

The president also announced the formation of a price stability committee, which he said will increase the effectiveness of the fight against inflation, while public sector price hikes will be based on targeted inflation.

Matys said the committee could result in some structural changes in a number of areas such as food prices.

Food prices are one of the main causes of inflationary pressures, he stressed.