Turkey’s economy to return to ‘rational ground, new finance chief says

Turkey’s newly appointed Treasury and Finance Minister Mehmet Simsek said the country has no choice but to return to “rational ground” in its economic policies.

Simsek said in the handover ceremony alongside his predecessor Nureddin Nebati that the main goal of the government is to increase social welfare, reports Xinhua news agency.

“Transparency, consistency, predictability and compliance with international norms will be our basic principles in achieving this goal,” Simsek said, underlining that it is vital in the medium term to reduce inflation to single digits, increase predictability, and accelerate the structural transformation that will reduce the current account deficit.