Turkey's economy on right track

ISTANBUL – Strong interest in Turkey clearly shows that the country's economic programme is on the right track, says its Finance Minister Mehmet Simsek.

He recently attended the International Monetary Fund (IMF) and the World Bank annual meetings in the United States (US), where a series of investor meetings and bilateral discussions meetings were also held.

"During our meetings, we explained the results of our programme and how we will realise the country's potential by ensuring the programme's benefits remain sustainable," he shared on his X platform.

Meanwhile, during an event at the Brookings Institution, Simsek presented the current state of Turkey's economy.

He said the country expected inflation to drop to single digits by the end of 2026, with the implemented programme already showing positive effects.

The decline in inflation, he said was anticipated to surpass the impact of a mere "base effect."

Simsek added that the impact of financial policies was beginning to be felt, while income policies that were more supportive of the economy will accelerate the disinflation process as market responses started to show improvement.

Among the top officials Simsek met were US treasury secretary Janet Yellen, IMF managing director Kristalina Georgieva and World Bank president Ajay Gupta.

Meanwhile, Yellen posted on her X account, stating that she had discussions with Simsek and Governor of the Central Bank of the Republic of Turkey Fatih Karahan, noting that the country has implemented a serious economic reform agenda.

She also emphasised the importance of combatting sanctions evasion and terrorism financing.

As for Georgieva, she expressed appreciation for Turkey's bold actions, adding that the country was making good progress in reducing inflation.