Turkey’s Minister of Finance and Treasury, Şimşek continued his meetings with foreign investors in the Gulf countries. He spoke at a panel organized by the Future Investment Initiative Institute in Riyadh. Şimşek emphasized that the new normal is to build trust with sound policies. He said, “This will eventually lead to portfolio and direct capital inflows. Capital inflows will accelerate the disinflation process and create real value gains in the lira.”
Şimşek also noted that there have been problems in the monetary policy framework in recent years, and he underlined that the policy is being rebuilt.
Mehmet Şimşek stated that they have the support of President Recep Tayyip Erdoğan for the new economic program, and he said that concerns about the program’s continuity are unfounded.
Şimşek also said about foreign investor inflows, “Foreign investments will return, but it will take time.”
— CNBC Middle East (@CNBCMiddleEast) October 25, 2023