Turkey is continuing its strong economic growth trend and the foundations of its economy are strong, Treasury and Finance Minister Berat Albayrak said Sunday.
Albayrak, who is in Argentina for a G20 meeting, was quoted by the Anadolu Agency (AA) as saying the government's recent policies were aimed at maintaining prudent fiscal policies, seeing healthy credit growth, carrying out structural reforms and strengthening Turkey's monetary policy framework.
"Turkey's economy continues its strong growth momentum. Our economic foundations are going to be strong and our outlook is promising," Albayrak said.
Following his appointment, Albayrak said the central bank is independent and will do whatever economic realities and market conditions necessitate.
The central bank's monetary policy committee, which has raised rates by 500 basis points since April in an effort to put a floor under the currency, will meet on July 24.
In an exclusive interview with Anadolu Agency, Berat Albayrak said the summit is held at a time when the trade balances have been redefined and the global economy has faced with a tough test with increasing protectionism.
"The protectionist trade policies are likely to cause new troubles both in the productivity and in the fields of production and employment," he said.
"For us, it was a remarkable and crucial meeting including an intense economic diplomacy," Albayrak said, noting that he had bilateral discussions with his counterparts from the U.S., EU, China, Germany, France, Brazil, South Korea, Indonesia and other countries.
"In this sense, the G20 summit was extremely fruitful with a strong communication," the minister added.
Pointing out Turkey's domestic, regional and global economic policies, Albayrak stressed that Turkey demonstrated how the country pursues sharing, win-win-based, active and dynamic policies -- thanks to the projects until today.
"Turkey will experience a much more powerful period in which it will not live what [problems] it lived in the past with a new development program, budget plan and macroprudential policies," he said.
Albayrak noted that he found the chance to explain Turkey's transformation and development success stories, while he attended a session as a main speaker to talk about Turkey's infrastructure investments -- valued more than $400 billion -- over the past 15 years.
"Indeed, we have seen a great favor by the audience," he added.
