Speeches

7/22/2016

Deputy Prime Minister Şimşek, "OHAL Will Have No Impact of Daily Life and Business World"

Şimşek, "The Government’s attachment to market economy continues. We anticipate subject incidents have limited and short term effects on Turkey economy. It is of utmost importance for us to maintain country credibility note at suitable investment environment level". Noting downward risks of Turkey economy “definitely increased”, Şimşek has said that Treasury would not be in need of supplementary foreign funding this year

Deputy Prime Minister Mehmet Şimşek in charge of economy, has made another call to international investors by two-hour teleconference on Thursday, July 21, 2016 upon the international criticism increased after Extraordinary Situation decision (OHAL) taken by the Government and some international credit rating agencies reduced the credit note of.

Meanwhile, in his most recent announcement in Ankara before leaving for China to participate in G20 meeting, Şimşek has said that downward risks of Turkey economy definitely increased.

According to announcement of Treasury Undersecretariat, Deputy Prime Minister Mehmet Şimşek has hosted an international investor teleconference on Thursday, July 21, 2016, organized by BGC Partners, Credit Suisse, Goldman Sachs, HSBC and JP Morgan jointly, for commenting on the current developments experienced in Turkey and potential impacts on economy. Reportedly, about 1,000 investors showed great interest in the teleconference lasted two hours and quesitons asked to Şimşek.

OHAL Will Have No Impact of Daily Life and Business World

Deputy Prime Minister Mehmet Şimşek has underlined that the only objective of OHAL declared by the Government was to eliminate the pro-coup elements and parallel structure elements within the state institutions.

"While doing this, the power will be used by the Government on reasonable level. OHAL will have no impact  on daily life and business world. Government’s attachment to market economy continues. We anticipate subject incidents have limited and short term effects on Turkey economy. Turkey have no intention whatsoever to change her economic policies. Fiscal discipline will continue to be among our priorities. We will continue to execute economic reform agenda in full determination. Required steps will be take immediately for increasing the savings".

It is of utmost importance for us to maintain country credibility note at suitable investment environment level

Meanwhile, Deputy Prime Minister Şimşek has noted that he never shared the assessments of some international agencies started to reduce the credit note of Turkey, said, "It is of utmost importance for us to maintain country credibility note at suitable investment environment level".

Underlining the importance of dialogue of the Government with opposition, Şimşek has noted that the polarization and tension of people diminished and subject dialogue was intended to be maintained at a period when the democracy became stronger.

Treasury would not be in need of supplementary foreign funding this year, debt revolving capacity is very strong

In his most recent announcement in Ankara, Deputy Prime Minister Mehmet Şimşek has noted that downward risks of Turkey economy “definitely increased”, but, Treasury would not be in need of supplementary foreign funding this year. Noting the fluctuations in foreign currency rate is negative for inflation, Şimşek has said that strong fiscal status of Turkey would be weaken to some extent however, Treasury's debt revolving capacity was very strong.

Şimşek has underlined, "Markets should understand that we will recover", their will be no election until the end of 2019. Noting Government works on supplementary investment incentives, Şimşek has said that entire shareholders of Bank Asya have not been discovered yet.