Türkiye committed to EU process, says Şimşek

BRUSSELS

Turkish Finance Minister Mehmet Şimşek has reiterated that the country is aiming for better ties with the European Union, stressing the process will benefit both sides.

"Looking to the future, I believe that Türkiye should be anchored in the EU again and that this should be done firmly. I see that this is in the interest of both Europe and Türkiye," Şimşek said during an event in Brussels, where he traveled to visit the European Commission and participate in a high-level meeting with EU candidate countries.

"Türkiye remains committed to the EU process, even though it may not look like it," Şimşek said. "I think there is a lack of leadership and strategic perspective in the EU when it comes to Türkiye."

The minister said both sides should play their role in the process.

"It takes two to tango, and I think Türkiye is ready," Şimşek stated, emphasizing the importance of full economic integration until full membership is in sight.

He also said that the issue of Türkiye's membership has become a political football in Europe and that this is the real problem that will be difficult to overcome.

The minister also noted that Türkiye is in the process of achieving the World Bank's status of a high-income country, saying, "We are only $736 [per person] away."

He described the mood among his contacts in Brussels as "constructive, not negative.”

“The outlook is positive. Not everything is blue, there are some gray clouds, but the situation is not gloomy," Şimşek said, adding that the two sides cannot separate from each other.

Şimşek listed the priorities in the EU process as updating the Customs Union, visa liberalization, cooperation in the fields of energy, security and migration, and business partnerships with third countries.

Meanwhile, Fatih Karahan, governor of the Central Bank of Türkiye, spoke at the Qatar Economic Forum about the government's recently announced public savings package and inflation.

"Most of the savings measures announced are spending measures, all of which will help us with inflation. The Finance Ministry is helping us with spending," Karahan said.

Karahan pointed out that the biggest economic problem for people in Türkiye is inflation.

“Our greatest contribution to economic prosperity will be to maintain price stability,” he said, underlining that there were differences between the inflation expectations of the markets and the bank.

"The market believes that inflation will come down, but there are differences between our forecasts,” he said.

“Our expectation is 38 percent, the market's expectation is 44 percent. We will do our best to bring inflation down.”