Mehmet Şimşek evaluates economic developments with investors in London

Minister Mehmet Şimşek met with investors from the real and financial sectors as part of his two-day series of contacts in London. During these meetings, Turkey's economic program and vision for structural transformation were discussed.

In his statements to investors, Şimşek noted that the implemented economic program has proven its resilience against recent shocks. He stated that inflation is on a downward trend and is expected to remain within the Central Bank's forecast range by the end of the year. Furthermore, he expressed that the current account deficit has been brought down to sustainable levels and the ratio of external debt to national income has decreased.

Emphasizing that discipline in public spending continues, Şimşek stated that while revenue performance might fall slightly below the target projected in the Medium-Term Program, the disinflation process is ongoing. He conveyed that the real sector maintains its resilient structure and that sectoral developments are being closely monitored.

In his assessments for investors, Şimşek expressed that vulnerabilities in the economy have decreased and macro-financial stability has strengthened, noting that the exit process from the currency-protected deposit scheme has been largely completed and reserve adequacy has been achieved. He added that volatility in the Turkish lira has also significantly decreased.

Emphasizing that Turkey is a large economy with strong growth potential, Şimşek said that they are ahead of many countries with high value-added in the manufacturing industry. He stated that Turkey is an attractive country for foreign direct investment with its developed physical infrastructure and young, dynamic population.

During his contacts in London, Şimşek also met with executives of Turkish firms operating in the UK to evaluate Turkey's economic potential and investment opportunities.

News Source: 12punto