World will soon end monetary tightening — Turkish finance minister

Turkish finance minister, Mehmet Simsek emphasises more optimistic outlook Turkish economy has, as expressed by international credit rating agencies. /Photo: AA

The possibility of monetary easing from the second half of 2024 has increased, Mehmet Simsek said on Thursday during the general assembly of the Banks Association of Türkiye. The global economy is expected to grow by 40% during the coming five years, Simsek added, noting this rate is below the global potential."In 2023, we are forecasting a growth rate of around 4.5% despite all global financial problems," he said.

"As I said before, our main principles are transparency, consistency, predictability and complying with international norms," he said."We will move forward in a system that embraces the principles of freedom of enterprise, free exchange, floating exchange rate, open and rule-based economy.

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