Turkish Government Determined to Achieve Financial Stability in Short Term
Friday, 23 June 2023 – Turkish Minister of Treasury and Finance, Mehmet Simsek, announced today that the Turkish government, under the leadership of President Recep Tayyip Erdogan, is committed to achieving financial stability in the short term. Simsek stated that the government’s new economic policy aims to achieve both financial stability and price stability in the country.
According to Turkey Now’s follow-up, Simsek emphasized that the government is working diligently to achieve these goals within a short period of time. He also highlighted that this stage began with the Central Bank’s statement issued last Thursday and will continue to be managed firmly and gradually.
In a significant move, the Central Bank of Turkey decided to raise the interest rate from 8.5% to 15% in the first meeting of the monetary committee, headed by Hafiza Ghaya Arkan. This decision falls within the framework of the new economic policy of the Turkish government, reflecting their commitment to achieving financial and economic stability in the country.
The Turkish government’s determination to address the current economic challenges comes amidst a decline in the Turkish lira. This urgent message from Finance Minister Mehmet Simsek demonstrates the government’s proactive approach to stabilize the economy and restore confidence in the financial markets.
The Turkish government’s focus on achieving financial stability in the short term is crucial for the country’s economic recovery and growth. With the implementation of the new economic policy and the Central Bank’s decision to raise interest rates, it is expected that Turkey will be able to overcome the current challenges and pave the way for a more stable and prosperous future.
What is the Turkish government’s new economic policy and how does it aim to achieve financial stability in the short term?
Turkish Government’s Determination to Achieve Financial Stability in the Short Term
Friday, 23 June 2023 – Turkish Minister of Treasury and Finance, Mehmet Simsek, announced today that the Turkish government, led by President Recep Tayyip Erdogan, is firmly committed to achieving financial stability in the short term. Simsek stated that the government’s new economic policy aims to achieve both financial stability and price stability in the country.
According to Turkey Now’s latest report, Simsek emphasized the government’s unwavering dedication to attaining these goals swiftly. He also highlighted that this process began with the Central Bank’s statement issued last Thursday and will continue to be managed resolutely and gradually.
In a significant move, the Central Bank of Turkey has decided to raise the interest rate from 8.5% to 15% in the first meeting of the monetary committee headed by Hafiza Ghaya Arkan. This decision aligns with the new economic policy of the Turkish government, demonstrating their commitment to achieving financial and economic stability in the country.
The Turkish government’s determination to address the current economic challenges comes amidst a decline in the Turkish lira. This urgent message from Finance Minister Mehmet Simsek showcases the government’s proactive approach to stabilizing the economy and restoring confidence in the financial markets.
The Turkish government’s focus on achieving financial stability in the short term is crucial for the country’s economic recovery and growth. With the implementation of the new economic policy and the Central Bank’s decision to raise interest rates, it is expected that Turkey will be able to overcome the current challenges and pave the way for a more stable and prosperous future.
Minister Mehmet Simsek’s commitment to achieve financial stability is a positive step towards addressing economic challenges in Turkey. With determination and strategic measures, it is hoped that the government’s efforts will result in a stronger and more stable financial system, benefiting both the country and its citizens.