Economic reforms take center stage as Finance Minister Simsek meets with US investors

Finance Minister Mehmet Simsek presented a comprehensive economic outlook for Türkiye during a series of high-profile investor meetings in Washington, where he emphasized inflation control as the government’s primary economic focus.

Simsek, who is in the United States for the G20, IMF, and World Bank Spring Meetings, held separate sessions with investors organized by Barclays, Jefferies, JP Morgan, and Bank of America, according to information obtained by Anadolu Agency (AA).

During these well-attended meetings, the finance minister shared current economic developments and future perspectives while assessing the impact of recent global market trends on the Turkish economy.

“Tightening financial conditions and weakening external demand could lead to more moderate growth in the Turkish economy,” Simsek told investors.

He highlighted that these same tightening financial conditions, coupled with falling oil prices, would have a downward effect on inflation.

Simsek expressed confidence that year-end inflation would fall within the Central Bank’s target range, signaling optimism about the country’s monetary policy trajectory.

Positive signals on current account deficit

On the current account balance, the minister projected a positive outlook, stating that the year-end current account deficit was expected to remain below the Medium-Term Program estimates. He attributed this improvement to slowing domestic demand and decreasing energy prices, which he said would contribute to narrowing the trade deficit.

While committing to maintaining strict spending discipline in public finance, Simsek acknowledged that potential slowdowns in economic growth could limit revenue performance.

The finance minister also used the meetings to highlight investment opportunities in Türkiye and outline the government’s reform agenda.

He noted that Türkiye demonstrates greater resilience against rising trade protectionism compared to similar countries, crediting this immunity to regional integrations and existing free trade agreements.

Simsek emphasized the government’s determination to continue implementing its economic program, adding that they would accelerate industrial policies, green and digital transformation reforms, and infrastructure investments to elevate Türkiye’s position in global value chains.