Statements on Medium-Term Program and Economy from Minister Mehmet Şimşek

Treasury and Finance Minister Mehmet Şimşek answered questions from foreign press members at the Medium-Term Program International Media Meeting, stating that speculations regarding the exchange rate regime have no basis and that their commitment to price stability is absolute.

Financial System and Security

Treasury and Finance Minister Mehmet Şimşek emphasized that their priority is to protect the integrity of the financial system during a meeting with foreign press members at the Presidential Complex.

It was stated that Turkey exhibits a determined stance in combating the financing of terrorism, money laundering, and illegal trade.

Exchange Rate Regime and Speculations

Minister Şimşek clearly stated that speculations directed at the exchange rate regime have no real basis whatsoever.

He noted that for a full transition to a floating exchange rate regime, inflation must decline, expectations must improve, and two-way movement must occur in the foreign exchange market.

Inflation and Disinflation Process

Stating that their commitment to price stability is absolute, Şimşek conveyed that they will maintain the disinflation program despite global supply shocks and inflation inertia.

It was stated that rental inflation has declined thanks to resources transferred to the reconstruction of the earthquake zone and housing projects.

Foreign Trade and Growth Targets

It was reported that industrial transformation and selective credit policies will continue resolutely, and that commercial relations with Asian countries are aimed to be strengthened.

Emphasizing that the ultimate goal of the program is sustainable high growth and fair income distribution, a message was given that the course will be maintained.