Minister Mehmet Simsek, the International Monetary Fund (IMF) and Saudi Arabia in the city of El Ula spoke in the city of developmental market economies.
Şimşek claims that they have priority to the fight against inflation and financial discipline said that inflation is still high, but service prices are sticky, especially in rent and education, too much retrospective indexing.
Şimşek explained that the fluctuation of food prices had a challenge and emphasized that inflation expectations are slower than the markets as markets, especially in households and companies.
“Nothing can replace good guidelines. Important solid guidelines and a good implementation of these guidelines.” “
The decline in inflation will continue this year. This will make expectations even more positive, he said.
Simsek in the budget discipline recalled that Turkey has spent 74 billion US dollars for earthquakes and reconstruction in the past two years.
Şimşek pointed out that the expenses for the reconstruction of cities are over 6 percent of gross domestic product (GDP), and that this is not just an accommodation, but also a difficult procedure that covers the entire infrastructure.
Last year, GDP's budget deficit of around 5 percent of the ratio of 5 percent Simsek reminded 3 percent of the budget deficit this year to reduce the ratio of public debts to GDP of 25 percent, he said.
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Strong dollars and high long -term US state bond bonds for the development of markets show a negative and convincing situation that Şimşek, Turkey can be influenced by these trends, he said.
Şimşek said that Turkey during this period against strong dollar and high US bond returns is more resistant that Turkey was not on the radar of investors in its portfolio entries for a long time, but that a return is relatively low.
The current Turkey account last year was pointed out to around 0.7 percent of Simsek last year that this year remains more than a little expandable this year, he said.
Lightning “In the past 18 months, the central bank's net reserves healed by about $ 125-130 billion.” he said.
The view that the focus is to improve the investment climate and reduce dependence on the Volatil capital entries, said Şimşek: “Turkey is an important market. The GDP per capita is around 15,000 US dollars. There is 1,3 trillion dollars domestic. ” he said.
“We hope to attract foreign direct investments again”
Lightning: “We hope that we will take off foreign direct investments again, as these are entries that do not generate any debts.” rated.
Simsek said that they will encourage portfolio investors to expand the ripe with the reduction of inflation and progress on the financial side. he said.
Şimşek explained that Turkey will further improve the market for debt management, loans with less variable interest rate, fixed vouchers and foreseen to expand the maturity.
Şimşek pointed out that the strong dollar would have a negative impact on Turkey, and reminded that Turkey bought raw materials in dollars and that it exports to the euro region and in Europe to a large extent.
Mehmet Simsek, the cost of debt service in dollars is also high, he said.
“Artificial intelligence, a transformative technology”
“Artificial intelligence is a transformative technology, but can also be destructive.” Simsek, global income inequality and artificial intelligence ready to concentrate on the concentration of the reserve, he added.
Minister Şimşek added that artificial intelligence has enormous potential for increasing productivity. However, if some aspects cannot be treated well, problems will arise.
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