Turkey Maintains Economic Stability Despite Global Uncertainty
(MENAFN) Turkey’s Finance Minister, Mehmet Simsek, reassured that the country remains dedicated to maintaining “prudent, responsible, and sustainable macroeconomic policies” amid ongoing global economic turbulence. His remarks, made during a meeting in Washington, D.C., reaffirmed the government’s economic strategy.
Speaking at an event hosted by the Atlantic Council during the International Monetary Fund (IMF) and World Bank's spring meetings, Simsek confirmed that Turkey’s efforts to stabilize its economy were “on track.”
Acknowledging the risks posed by global economic shifts, Simsek highlighted that factors such as falling oil prices and a stricter monetary policy could help mitigate inflationary pressures. He stated that “inflation is likely to stay well within the program target band.”
“Our response to global economic policy uncertainty is to stick to our prudent, responsible, sustainable macroeconomic policies,” he emphasized.
Despite global trade challenges, Simsek noted that Turkey’s financial stability was supporting domestic demand while curbing imports. He pointed out that “with oil prices significantly lower, it implies that the actually current account deficit is likely to be lower than our program target.”
“I can assure you, spending discipline will be maintained,” he affirmed.
Looking to the future, Simsek outlined that structural transformation, particularly in digital infrastructure, artificial intelligence, and green energy initiatives, would reduce Turkey's reliance on oil and gas imports.
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