Reforms to continue without slowdown: Turkish deputy PM

Price stability, structural reforms to be Turkey’s top priorities in post-referendum period, says Mehmet Simsek

Reforms to continue without slowdown: Turkish deputy PM

World Bulletin / News Desk

Necessary structural reforms will be strongly implemented in the medium-run by the government to back the recent actions taken for the economic growth, Turkey's deputy prime minister for the economy said Monday.

Speaking on a private TV channel to evaluate the results of Sunday's constitutional referendum, Mehmet Simsek said that the risk of undemocratic interventions would not be on the country's agenda anymore and that economic reforms would continue without any slowdown.

Simsek pointed out the accuracy of the government's recent actions like strengthening the Credit Guarantee Fund (KGF), employment support and new investment incentives.

"All those are factors that may accelerate Turkey with the elimination of referendum uncertainty and increase the country's hope. They have critical meanings in terms of managing the short-run process," he said.

"To back those for economic growth, the government will strongly implement necessary structural reforms in the medium-run," he added.

Early this year, the parliament approved a bill to provide a collateral of up to 250 billion liras (some $69 billion) to boost bank loans for businesses by covering non-performing loans at up to 7 percent of all loans -- an increase from the current 3 percent.

Around 157,000 companies have benefited from that guarantee and reached 114 billion Turkish liras [some $31 billion] finance through KGF, according to the country's ministry of finance.

According to the Turkish Statistical Institute, Turkey's GDP, which grew by 2.9 percent last year, was around 2.59 trillion Turkish liras (some $856.8 billion) in 2016, compared with 2.34 trillion Turkish liras (around $861.5 billion) the previous year.


Güncelleme Tarihi: 17 Nisan 2017, 16:21