Turkish finance minister signals stability in economy

Turkish Finance Minister Mehmet Simsek signaled stability in Türkiye's economy, saying volatility in markets has significantly decreased and that he expects the effects of recent developments on the economy to be temporary and limited, according to a press release by his ministry Tuesday.

Simsek and Central Bank Governor Fatih Karahan held a video conference Tuesday with international investors and answered their questions on current developments.

Around 4,500 investors from North America, the UK, other European countries and the Middle East showed great interest in the one-hour meeting, according to the statement.

During the meeting, Simsek said that all necessary steps were taken as soon as possible for the healthy functioning and efficiency of the markets.

He also emphasized that necessary steps would be taken in the coming period if needed.

With the economic program implemented, the resilience of the Turkish economy has increased, inflation is on a downward trend, the current account deficit has fallen to sustainable levels and fiscal discipline has strengthened, Simsek said.

He also stressed that the policies towards achieving price stability and structural transformation, which are the main objectives of the program, will continue with determination.