Mehmet Şimşek

Expected post-election fiscal tightening would strengthen the effectiveness of Türkiye's monetary policy, in the context of weakened transmission channels, Fitch Ratings has said. 

"If sustained, this improvement in policy consistency should support lower inflation, a narrower current account deficit and a recovery in international reserves," the rating agency added.

The medium-term economic program is working and yielding the desired results, Finance Minister Mehmet Şimşek has said, vowing to further strengthen the program. 

"We are determined to resolve Türkiye's macroeconomic problems," Şimşek said in a speech he delivered at the Uludağ Economy Summit.

Foreign investors trust Türkiye and their worries about the economic program the government implements have disappeared, Finance Minister Mehmet Şimşek has said.

The International Monetary Fund (IMF) is very much supportive of the reform program in place in Türkiye, says Alfred Kammer, director of the IMF European Department.

"That's also what we would be recommending to Türkiye, what the economic team there is carrying out," Kammer said at the press conference on the release of the European Economic Outlook in Washington on April 19.

Finance Minister Mehmet Şimşek will meet with U.S. fund managers and executives of the credit rating agencies in New York on April 22 as part of the Türkiye Investment Conference, says Murat Özyeğin, the head of the Türkiye-U.S. Business Council (TAİK).

This will be the 14th edition of the event organized in collaboration with Citi, Özyeğin told journalists.

Treasury and Finance Minister Mehmet Şimşek has said they will continue to support the Central Bank's fight against inflation with fiscal policy.

The economic program aims to restore price stability and fiscal discipline while addressing macroeconomic challenges, such as reducing the current account deficit, Şimşek stressed.

The government is working on measures to increase public sector savings, Vice President Cevdet Yılmaz has said.

The Finance Ministry and the presidency of strategy and budget authority are carrying out studies on public sector savings, with more than 15 articles being worked upon, and they will be implemented, Yılmaz told reporters after the cabinet meeting earlier this week.

A decline in the current account deficit shows that the government's medium-term economic program is working, Treasury and Finance Minister Mehmet Şimşek has said.

He noted that the deficit was lower than expectations in February and the gap declined by $5.8 billion compared with the same month of last year.

Treasury and Finance Minister Mehmet Şimşek has refuted reports that the Value Added Tax (VAT) rate on food will be increased.

"We have not raised VAT rates! We are taking steps to prevent abuse," Şimşek wrote on X, quoting a news report on his ministry's preparation on a regulation regarding services in restaurants and cafes.

The World Bank has increased its support for Türkiye from $17 billion to $35 billion, providing an additional $18 billion of resources for the next three years, Treasury and Finance Minister Mehmet Şimşek has said.