New Zealand Treasury

Turkey's Treasury and Finance Ministry announced Friday that the Treasury's cash balance last month saw a deficit of 8.2 billion Turkish liras ($1.3 billion).

International rating agencies have been making intense efforts to create a pessimistic view of Turkey's banks, Treasury and Finance Minister Berat Albayrak said on Aug. 31, but added that the government vowed "to stand by its financial institutions."

The government sees no big risk regarding Turkey's economy or financial system, as the economy's foundations are robust in mainly three areas, Treasury and Finance Minister Berat Albayrak has said. 

The new economy management of Turkey envisages harmony with the dynamics of the market, concurrent with the realities of financial environment, coordinated with the global financial system with strong diplomatic communication, and will walk more firmly, Treasury and Finance Minister Berat Albayrak has said.

There will be no more debt restructuring or postponement for taxpayers, Treasury and Finance Minister Berat Albayrak said on July 17.

The government has introduced a number of key revisions regarding economic management, including offering cadres to thousands of subcontracted public workers, shutting down some regulatory and supervisory bodies and transferring a lender currently held by the General Directorate of Foundations to the treasury, in an emergency rule decree published in the Official Gazette on Dec. 24.

The staff of the Undersecretary of Treasury has submitted a farewell letter to Ali Babacan, the departing deputy prime minister in charge of the economy, thanking him for his work over his 14 years in politics.