Nebati vows macro prudential measures

ISTANBUL

Macro prudential measures will be taken to reduce volatility in the markets, Treasury and Finance Minister Nureddin Nebati has said, adding that by improving expectations companies in the real sector will be able see the future more clearly.

“The Turkish Economy Model is the right one. Turkey has the potential to attract large amounts of foreign direct investments thanks to its strong production and export capacity,” Nebati said at a meeting with women executives of companies and non-governmental organizations in Istanbul on Jan. 8.

Nebati made a presentation on the outlook of the Turkish economy at the meeting that lasted for around five-and-a-half hours.

The minister also informed the attendees regarding the support and intensives the government provides, including vocational courses and on-the-job training schemes, which aim to boost women’s employment.

“That was a good and productive meeting. We conveyed the problems we are facing to the minister. Inflation, interest rates and foreign exchange rates are particularly the pressing issues for us. The minister said that things will improve, and loans will be made more accessible. We are optimistic about new investments,” said Hülya Gedik, the board chair of Gedik Holding, after the gathering.

In a speech he delivered at a meeting with members of the Independent Industrialists and Businessmen Association (MÜSİAD) last week, Nebati reiterated that the new Turkish economy model aims to “ensure permanent macroeconomic stability, encourage high value-added production, increase production and employment, and reduce the current account deficit by increasing exports.”

The minister also said the volatility in foreign exchange markets was over.