Turkey to meet its privatization targets: Finance minister

ANKARA - Anadolu Agency

Finance Minister Mehmet Şimşek. DHA Photo

Turkey will reach its privatization income target for 2014 just like it did a year earlier when the world experienced financial distress, Finance Minister Mehmet Şimşek said April 26.

Prior to a visit to Qatar for talks with international investors, Şimşek told Anadolu Agency that Turkey generated over $12.5 billion from privatized assets in 2013, surpassing the estimated target of $4 billion.

The minister said this was a significant achievement considering that 2013 was a year of worldwide financial distress.

“We believe Turkey will reach this year’s privatization revenue target of $7 billion, and even go beyond that. Our contacts with investors show that their interest in Turkey is very high. As a result, I think 2014 will be a successful year in terms of privatizations with competitive and transparent tenders as always,” he said.

Turkish economy gained more than $58.3 billion from privatized assets since the ruling Justice and Development Party (AKP) came to power in 2002. Şimşek said economic and political stability would drive Turkey forward day by day.

The finance minister will visit Qatar, Kuwait and United Arab Emirates to increase interest in privatization. “The Gulf region has to export capital just like oil and has. It is impossible to use all of the balance of payment surplus among themselves. That’s why Turkey is important for them,” Şimşek said.

Şimşek said the revenue generated from privatizations totaled $58.3 billion while the amount of resources transferred to the Treasury and other related institutions has reached $40.7 billion, stressing that those privatizations were not solely income-oriented.

The finance minister also praised privatization measures. “Stability, a professional approach, the right timing, the right pricing, transparency and an environment of open competition during the privatization process have brought the demand and consequently an increase in price,” Şimşek said.

The minister said they were working on privatization projects such as Spor Toto, Turkey’s legal sports betting organization, horse racing, the Istanbul gas distribution agency İGDAŞ, as well as the Haydarpaşa Port project.