Economic message from Minister Şimşek: Fluctuations will not be permanent

Minister of Treasury and Finance Mehmet Şimşek gave critical messages regarding the economy. Şimşek said, "Since a significant portion of our exports goes to geographies outside of rule-based countries, we will be relatively less affected compared to similar countries despite protectionism in foreign trade."

ŞİMŞEK: THE DOMESTIC MARKET IS THE DETERMINING FACTOR FOR US

Speaking at the IV. Agriculture and Forestry Council "Agricultural Economics Workshop" program in Ankara, Şimşek said, "Since a significant portion of our exports goes to geographies outside of rule-based countries, we will be relatively less affected compared to similar countries despite protectionism in foreign trade. Turkey's dependence on exports is lower than similar countries. When producing our GDP, we have proceeded based on domestic demand rather than exports. The reflections on us will be more limited compared to other countries, because the determining factor for us is the domestic market."

'MORE THAN 80 PERCENT OF OUR EXPORTS GO TO NEAR AND FRIENDLY COUNTRIES'

Minister Şimşek said the following regarding investors' concerns:

"We have free trade agreements with a total of 54 countries outside the US and EU, and 68 percent of our exports go to these countries. More than 80 percent of our exports go to near and friendly countries.

'WE HAVE BROUGHT INFLATION UNDER CONTROL'

It is clear that we are facing a serious inflation problem, but first, we brought inflation under control. It was a control period, and we entered the disinflation period as of the second half of 2024. There is success in disinflation; it is proceeding close to the program. I do not think the recent turmoil will have a permanent effect. Inflation is clearly falling and will continue to fall because this is our biggest priority."

News Source: 12punto