Treasury and Finance Minister Mehmet Şimşek said Türkiye would continue to prioritize supply and demand policies and structural reforms in 2025, as he said the country would continue to hold its strategic significance in the new year.
Şimşek was speaking at the The 4th Future of Finance Summit, organized by Daily Sabah’s parent company, Turkuvaz Media Group in Istanbul.
Türkiye’s top financial leaders convened on Tuesday to discuss the country’s evolving economic policies, financial system, strategies and transformative agenda amid global uncertainties.
Noting that the economy would be revived in Türkiye’s main trade partners in the next year, including the European Union, the Middle East, North Africa and Central Asia, Şimşek said inflation has globally been on a declining pattern, which he said was a positive development for Türkiye.
“Lastly, there are serious geopolitical developments and in reality, there’s even the risk of disintegration in trade. However, we are about to enter a year in which Türkiye’s strategic significance is coming to the forefront,” Şimşek said.
Noting that there has been an improvement in global trade in the past year, compared to 2023, Şimşek said there are some uncertainties but inflation is declining, which is in turn improving the global financial conditions.
The top finance chief also said the current trends in the global economy are in favor of Türkiye, while pointing that there are issues and structural problems in the long term, but Türkiye is in a favorable position.
Noting that 62% of Türkiye’s exports are made to countries with free trade agreements, Şimşek said the country has reached a global revenue of $30 trillion.
“In a way, we are the center of the world,” he said, adding that Türkiye would come to the forefront in the face of ongoing regional developments and initiatives, such as the Development Road Project with Iraq.
