Türkiye could face a fiscal policy turnaround

2023-06-05 20:21:31

Es were all things taken for granted that the new Turkish Minister of Finance and Economics, Mehmet Simsek, chose as the guiding principle for his actions: “Transparency, consistency, predictability and compliance with international norms.” The fact that Simsek emphasized this shows how far Turkey has fallen below removed President Recep Tayyip Erdogan from the principles of a rule-based market economy.

Simsek shed light on the dark chapter when he spoke of returning to a “rational basis”. The country has “no other choice”. Erdogan’s ears must have ringed at the implicit accusation that his economic and financial policies were irrational, which is quite true.