Turkish Treasury and Finance Minister Mehmet Simsek (pictured center) underscored on Sunday that the country must bring the economy back to "rational ground," with the goal of achieving price stability.
"Reducing inflation to single digits again in the medium term, increasing predictability, and accelerating the structural transformation that will lower the current account deficit is of vital importance for our country," the newly-appointed finance minister said.
"Our main policy will be to support our Central Bank in the fight against inflation through the fiscal policy and structural reforms to be implemented," Simsek stressed. The Turkish central bank decided to keep its policy rate on hold at 8.50% during the May meeting.