Turkish finance minister is seeking international trust - there are signs of a turnaround in economic policy

Turkish finance minister is seeking international trust - there are signs of a turnaround in economic policy

According to a report by www.faz.net,

In his inaugural speech, the new Turkish Finance Minister, Mehmet Simsek, emphasized the need for a rational policy to stabilize the economy and sought the trust of international investors. This suggests a possible turnaround in Turkey's economic policy after President Erdogan prioritized stabilizing the economy after his re-election.

The fact that Erdogan has entrusted a respected economist with the finance department shows his desire to stabilize the economy. The personnel suggests that there could be a return to rational economic policy. The policy of low interest rates and capital controls could give way to more pragmatic policies, which could have a positive impact on the confidence of international investors.

Simsek has already been responsible for Turkish financial policy in the past and could steer economic policy towards orthodox doctrine. His return to the helm of the Finance Ministry suggests that Turkey may return to a more conservative economic strategy.

The absence of politicians with extreme viewpoints in Erdogan's cabinet also signals a potential shift toward more pragmatic policies that could boost the international community's trust. Improving relations with NATO and appointing an experienced defense minister could improve security in the country and strengthen NATO relations.

The appointment of the previous intelligence chief Hakan Fidan as foreign minister may signal continuity in foreign policy, as he is a close confidante of Erdogan. This could mean stability on the diplomatic stage.

Overall, these developments point to possible positive changes in Turkey's economic and foreign policy that could strengthen the confidence of international investors and overall stability in the region.