25.03.2025 17:30
The Minister of Treasury and Finance, Mehmet Şimşek, addressed the impact of recent political developments on the economy during his meeting with foreign investors. Minister Şimşek stated that these developments would not cause lasting damage to inflation. He also mentioned, "We always have additional plans in place" in response to potential future scenarios.
Turkey held an important meeting following the developments in the economy last week. Minister of Treasury and Finance Mehmet Şimşek spoke with Central Bank President Fatih Karahan and global investors via teleconference. The meeting, hosted by Citigroup and Deutsche Bank, evaluated the latest developments in the Turkish economy.
In his meeting with foreign investors, Minister of Treasury and Finance Mehmet Şimşek stated that the recent developments would not cause permanent damage to inflation.
"DEMAND FOR FOREIGN CURRENCY INCREASED"
Continuing his speech, Şimşek expressed, "After the court decision, the demand for foreign currency increased. We see that 60% of the demand for foreign currency comes from foreign investors, 30% from domestic companies, and 10% from individuals," and added, "The President fully supports the economic program."
Emphasizing that the volatility in financial markets will decrease, Minister Şimşek highlighted, "We always have additional plans," and stated, "If demand arises, the Central Bank of the Republic of Turkey can borrow in foreign currency to support its foreign currency reserves."
ŞİMŞEK: I AM ON DUTY
In his evaluations regarding the economy, Minister Şimşek stated that he continues his duty and is making intense efforts to implement Turkey's economic program. Şimşek indicated that they would take the necessary steps to manage the risks and opportunities in the economy.
TCMB PRESIDENT KARAHAN: A MONTHLY 4% LOSS OCCURRED IN THE FOREIGN CURRENCY BASKET
TCMB President Karahan, in his meeting with foreign investors, stated that the Central Bank's disinflation strategy is not dependent on the real exchange rate, saying, "A monthly 4% loss occurred in the foreign currency basket."
In a statement from the ministry, it was said, "In the meeting to be hosted by Citigroup and Deutsche Bank, the latest developments in the Turkish economy will be evaluated. Many portfolio and direct foreign investors from North America, the United Kingdom, European countries, and the Middle East will participate in the meeting."