Treasury and Finance Minister Mehmet Şimşek pointed out that monetary policies continue to be implemented in a stable manner and said, “The Turkish lira is still a bit weak, but the volatility has disappeared.”
Treasury and Finance Minister Mehmet Şimşek spoke at the Arab Banking Summit.
Pointing out that Turkey has not yet been caught in the global disinflation wind, Minister Şimşek said, “Our monetary policies continue to be implemented in a stable manner. The decline in the current account deficit will be the basis for reserve accumulation. Portfolio preferences will favor the TL and the real exchange rate will turn in our favor, strengthening disinflation. The TL is still a bit weak but volatility has decreased. We are solving our structural problems.”
The highlights of Minister Şimşek’s speech are as follows:
- Our monetary policies continue to be implemented in a stable manner.
- Our program is working thanks to a combination of sound policies and structural reforms.
- We are trying to make growth sustainable and more balanced.
- Portfolio preferences will favor the lira and the real exchange rate will turn in our favor, supporting the disinflation process.
- The Turkish lira is still a bit weak, but the volatility has disappeared.
- Central Bank reserves continue to increase.
- We are exiting the KKM and TL deposit reserves are increasing.
- Investments in TL assets continue to appreciate.
- All credit rating agencies have positive expectations for Turkey.
- We need to refocus on industrial transformation.
- We will continue our investments in artificial intelligence.
