Investor favourite Mehmet Şimşek set to return as Turkish finance minister

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Move signals that President Recep Tayyip Erdoğan may be open to a more orthodox economic approach

email rounding up the latestTurkish president Recep Tayyip Erdoğan is set to appoint Mehmet Şimşek as finance and treasury minister, according to a person familiar with the negotiations, a move that would bring back to the government an economist who is widely respected by foreign investors.

If he is appointed, it would be a signal that Erdoğan may be willing to reverse his unorthodox policies, which many blame for triggering an acute cost of living crisis as the lira has tumbled to record lows against the dollar.’s deputy prime minister for economic affairs. He had served as finance minister from 2009 to 2015, when he assumed the deputy prime minister role.

Erdoğan, who was re-elected to a new five-year term as president on Sunday, is expected to unveil his new cabinet on Saturday. Turkey’s government did not immediately comment on the matter. The news that Şimşek was set to be appointed was first reported by Bloomberg.

 

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