Türkiye's newly appointed economy chief Mehmet Şimşek said macro-financial stability would be the top priority, stressing "vital importance" to bring inflation down to single digits, increasing predictability and accelerating structural transformation.
Şimşek said Türkiye has no choice but to return to "rational ground" to ensure predictability in the economy and stressed the primary goal of the new government will be to increase social welfare.
"Türkiye has no other option than to return to a rational ground. A rules-based, predictable Turkish economy will be the key to achieving the desired prosperity," he said.
Şimşek emphasized that macro-financial stability would be a priority in an environment of increasing global challenges and geopolitical tensions.
"We will start our medium-term financial studies without wasting time," he said.
He stressed the importance of lowering inflation to single digits, increasing predictability and accelerating the structural transformation.
"It is vital for our country to reduce inflation to single digits again in the medium term, to increase predictability in all areas, and to speed up the structural transformation which will reduce the current account deficit," Şimşek said. "We will carry out our work in coordination with the relevant ministries within the framework of these priorities."
"Establishing fiscal discipline and ensuring price stability for sustainable high growth will be our main goals," Şimşek said.
Fiscal policies and structural reforms will support Türkiye's central bank to help lower inflation, he noted.
