ISTANBUL, June 6 Reuters Turkey39;s lira slid to beyond 16.55 against the dollar on Monday, bringing its losses to more than 20 this year, due to concerns about a surge in inflation to a 24year high and the finance minister39;s promise that rate would remain steady.

The lira weakened as far as 16.57 to the U.S. currency by 0706 GMT. Recent losses have brought it back towards the record lows hit on Dec. 20 in a currency crisis triggered by a series of unorthodox interest rates cuts in late 2021.

The lira shed 44 last year and has been the worst performer in emerging markets for several years running due largely to economic and monetary policy concerns under President Tayyip Erdogan39;s government.

Milliyet newspaper on Monday cited Finance Minister Nureddin Nebati as telling deputies from Erdogan39;s ruling AK Party at a weekend meeting that a nearterm rate hike or cut was not being considered.

He forecast that annual inflation would be around 4849 at year end, falling to 19.9 by end2023. Earlier this year he had promised singledigit inflation by an election set for June of next year.

A forexprotected lira deposit scheme, launched after the lira hit its record low in December, would continue and its cost to the budget as of Friday stood at 21.1 billion lira 1.29 billion, he was also quoted as saying.

The lira slide, war in Ukraine and surging energy prices pushed Turkish annual consumer price inflation to 73.5 in May, the highest level since 1998. Inflation began to…