Economy chief Şimşek: Türkiye’s growth potential will increase thanks to reforms

Treasury and Finance Minister Mehmet Şimşek, who was the guest of the "3rd Future of Finance Summit" and "Money Talks" organized by Turkuvaz Media Group, made a presentation on the economic agenda, including inflation and growth.

Highlights from Minister Şimşek's statements are as follows:

Balance will be achieved in growth. There will be an increase in growth potential thanks to reforms. We will continue high growth in the future.

Inflation will be in single digits in 2026. Inflation will decrease permanently. There has been a 5-point improvement in inflation expectations in the last 2 months.

We have presented the Medium-Term Plan (MTP) announced by our President. Predictability has increased. Uncertainty has dissipated. The medium-term program is a roadmap for the public and private sectors.

The budget deficit will be below 6%. There will be no debt to the next year. The current account deficit will be 2% in 2026.

Türkiye is in a very advantageous position. International fund inflows have started.

We have opened up a credit area of 70 billion TL.

We aim to reduce Türkiye's risk premiums (CDS) below 200 basis points. With global interest rate cuts, fund flows to economies like ours with a story will increase.

There is an improvement in Türkiye's credit outlook.

In the coming years, global investors will say 'Why are we not in Türkiye'. When we bring inflation down to single digits, capital markets will become a very important alternative. We will achieve this. A little patience is needed. Programs are successful when they are realistic, implemented with determination, and gain social support.

In 2024, we will give up 2.2 trillion TL in taxes. We offer a 10-year term loan with the YTAK program. Tax exemption in service exports will increase to 80%.

There is an improvement in Türkiye's credit rating outlook and it deserves a credit rating upgrade.