Treasury and Finance Minister Mehmet Şimşek expressed the fundamental principles of the Century of Türkiye as stability, trust, and sustainability in a statement shared on social media.
Şimşek stressed in a social media post: "The economic policy in the upcoming period will be shaped around these concepts, with the main objective being the prosperity of the country's 85 million citizens and future generations, ensuring their well-being, peace, and security. The goal is to establish an economic environment that enables individuals and society as a whole to attain happiness."
Şimşek highlighted that sustainable growth is essential for welfare and development, requiring both increased investments, employment, and enhanced productivity.
"The importance of predictability is a key factor for investment and employment decisions. While favourable financing conditions and high profitability may seem attractive, they alone cannot sustain long-term growth without predictability. Trust is the crucial element in achieving predictability, and policies based on rule-based frameworks are vital to instilling confidence," Şimşek said in a statement.
Şimşek emphasized the significance of rule-based monetary policy focusing on price stability and financial stability, along with predictable fiscal policies aimed at maintaining a stable public sector financial balance and sustainable budget financing.
He noted: "A policy framework based on market economy, free exchange regime, and the open economy principles would attract capital flows. This, in turn, would facilitate investment and production, restore stability to the Turkish lira, and establish it as a reliable currency. A stable and secure currency serves as an effective solution to prevent dollarization."
"The economic philosophy of the Turkish government since 2002, as outlined in their election manifesto, is based on principles such as freedom of enterprise, the market economy, open foreign exchange regime, floating exchange rate system, and inflation targeting model," Şimşek concluded his comments by emphasizing that the recent decision by the Central Bank should be evaluated within this framework.
