Speeches

4/21/2017

Important Statements by Deputy Prime Minister Mehmet Şimşek

"The outlook in Turkey is not as bleak as it appears from outside but it is not as positive as we desire, either. The result of the referendum is positive in terms of stability. However, there will be structural reforms to drive growth. I think 3 percent growth is only average for us. We will return to a growth trend of 5-6 percent. We believe that we can do it."

Spring meetings of International Monetary Fund (IMF) and World Bank will be held in Washington on 21 to 23 April 2017. Mehmet Şimşek, the Deputy Prime Minister in Charge of Economy, delivered a speech in a panel titled "Abolishing Risks in Countries: Reforms for Growth" which was organized as part of the spring meetings.

Pointing out that the situation in Turkey is not as gloomy as it is depicted in certain international publications, Şimşek said: "The outlook in Turkey is not as bleak as it appears from outside but it is not as positive as we desire, either. Turkey has recently encountered many challenges. In addition to global problems, we were exposed to geopolitical tensions and domestic political shocks that slowed down the economy but the worst times are over for Turkey".

"The result of the referendum is positive in terms of stability"

Şimşek noted that the national economy showed an outstanding resistance to all domestic and foreign challenges. Stating that the people chose to say "yes" to the amended constitution that modifies the Presidential Government System, Şimşek said this is a positive decision in terms of stability. Mehmet Şimşek said: "The result of the referendum will help clear uncertainty but the actual driving force of the growth will be structural reforms. I think 3 percent growth is only average for us. We will return to a growth trend of 5-6 percent. We believe that we can do it".

Stating that the AK Parti government would give priority to the comprehensive reform program that was designed several years ago, Şimşek said that the planned regulations for education, taxation, justice and labor market would be realized as soon as possible. Şimşek also stated that he considered development of an investment environment in Turkey very important, and that World Bank's "Convenience of Operation" studies are taken as a guide.

"The Customs Union agreement with EU will turn a new page in trade"

Noting that the relations between Turkey and European Union (EU) continue despite all the "fuss", Şimşek said that the new Customs Union agreement that was approved by the EU Commission the previous year would turn a new page in trade. Pointing out that the new agreement was intended to cover services, agricultural products and public procurements in addition to industrial goods, Şimşek said they hoped to start the negotiations this year and complete them within a few years.