Ministry of Treasury and FinanceA written statement was published by In the statement, it was stated that ‘new steps to be taken regarding the economy will be shared this evening’. In the statement “Despite this troubled period we have been through, we have no doubt that we will successfully overcome this process with the policies we have implemented.‘ were included.
In a statement made by the Ministry, citing that the Turkish economy is getting better, and announced that some steps will be shared starting this evening.
“Turkey, which is among the few major economies of the world, continues to rise on strong foundations based on the principles of free market economy. It is aimed to perpetuate the strong and balanced growth performance achieved by our economy.” The achievements we have achieved, especially in Turkey, support this solid stance of our economy. The opportunities created by the discipline provided in public finance are used as a maneuvering area for our economy in difficult times. The solid and stable structure of our banking sector is the uninterrupted and more importantly, the financing needed by our private sector and our households, under favorable conditions. it is instrumental in ensuring that
Press Release (09.06.2022) pic.twitter.com/BE7jdtef1Z
— TR Ministry of Treasury and Finance (@HMBakanligi) June 9, 2022
In the announcement, which stated that the new steps to be taken will be announced as of this evening, it was stated as follows:
- Turkey, which is among the few major economies of the world, continues to rise on strong foundations based on the principles of free market economy. It is aimed to make the strong and balanced growth performance of our economy permanent.
- The gains we have achieved in the past 20 years, especially in the public finance and banking sector, support this solid stance of our economy. The opportunities created by the discipline provided in public finance are used as a maneuvering area for our economy in difficult times.
“OUR FREE MARKET CONDITIONS PRINCIPLES ARE TRYING TO BE QUESTED”
- The solid and stable structure of our banking sector, on the other hand, is instrumental in providing the financing needed by our private sector and households uninterruptedly and, more importantly, under favorable conditions.
- Our private sector, which can easily adapt to dynamic and challenging conditions with its strong industrial infrastructure, undoubtedly gives us an important support in achieving our growth and development goals one by one.
- Our country has also been affected by many economic difficulties that have affected the whole world in the recent past. At the beginning of these troubled periods, the 2008 global financial crisis and the 2011 European debt crisis that followed come to mind. The Turkish economy has emerged from all these periods by successfully growing and getting stronger thanks to its resistance to external shocks.
- While the effects of the epidemic on the world have not been completely erased in the recent period, we experience together that the war in our nearby geography has carried the global economy to a much more difficult process. Despite this troubled period we are going through, we have no doubt that we will successfully overcome this process with the policies we have implemented.
- Unfortunately, some circles continue to recklessly use all the opportunities they get to question and question whether the Turkish economy is a free market economy and the foreign exchange regime is liberal. These speculations that various extraordinary measures will be implemented in our economy for the last 6 years have been deliberately put forward and our unchanging and indispensable principles of free market conditions have been tried to be questioned.
“LITERALLY ILLEGAL TO THE ECONOMY AND OUR POTENTIAL”
- Today, the inflation problem of the whole world, which is caused by disruptions in energy and supply chains, is tried to be transformed into pessimistic scenarios as much as possible in Turkey. Trying to shadow the success of the Turkish economy, which is approximately 10 trillion TL in size, with a few periodic data is literally unfair to the economy and our potential.
- Our country has succeeded in turning every factor that those who focus on short-term interests called risk for the last 20 years, into an opportunity in a short time. Nowadays, we see that speculative and unfounded claims about foreign exchange prices continue to be made, accompanied by irrational rhetoric.
- The whole world has experienced how much the exchange rate, inflated by speculation, fell in one day on December 20, 2021, after the atmosphere of uneasiness created by those who pursue their short-term interests recently. In this context, it is of great benefit for all our citizens to not forget this experience and use common sense without allowing some segments to realize their manipulative interests.
“NEW STEPS WILL BE ANNOUNCED FROM THIS EVENING”
- We have not diminished our belief for a single day that our citizens will continue their efforts for the future of our country, our nation and our children instead of giving credit to these malevolent disaster tellers.
- In this context, our economy management will continue to take fast and solution-oriented steps, within the framework of the Turkish Economy Model, in some economic topics, especially inflation and exchange rate, in our agenda; The sequence of new steps we will take will be shared with the public by our Ministry and relevant institutions as of this evening.
INFLATION PROTECTED BOND APPLICATION
After the “Currency Protected Deposit” (KKM), the practice of “Inflation Protected Bonds” has been mentioned by government circles for a while. Treasury and Finance Minister Nureddin Nebati announced on May 2 that the preparations for the implementation were completed:
- The work of our relevant institutions for these instruments, which will be commissioned if needed, continues intensively. We have completed our work on the design and development of inflation-protected bonds for individual investors, which is one of these alternatives. After the completion of the other operational processes related to the issuance of the said bond, we will decide on the timing of the issuance within the framework of market conditions and our Treasury borrowing strategies and share it with the public.
