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Turkish economy to return to 'rational ground', new finance minister says

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Turkey's newly appointed Finance Minister Mehmet Simsek said on Sunday that the country has no choice but to return to 'rational ground' to ensure predictability in the economy.

New Treasury and Finance Minister Mehmet Simsek stands during a press conference where Turkish President Tayyip Erdogan announced the new cabinet, in Ankara, Turkey June 3, 2023. REUTERS/Umit Bektas

ANKARA, June 4 - Turkey's newly appointed Finance Minister Mehmet Simsek said on Sunday that the country has no choice but to return to "rational ground" to ensure predictability in the economy.Simsek to his cabinet on Saturday to tackle Turkey's cost-of-living crisis and other strains, in a clear sign that his newly elected government would return to more orthodox economic policies.

In a handover ceremony, Simsek said the main goal of the new government will be to increase social welfare. "Transparency, consistency, predictability and compliance with international norms will be our basic principles in achieving this goal," Simsek said.Our Standards:

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