New finance minister vows market-friendly transformation

New finance minister vows market-friendly transformation

ANKARA-Anadolu Agency
New finance minister vows market-friendly transformation

Turkey's economy management will focus on a market-friendly transformation program with micro reforms, while enhancing macroeconomic stability, the country's new treasury and finance minister said on Nov. 10. 

"Turkey will resolutely support fight against inflation and raise public finance quality by maintaining a fiscal discipline," Lütfi Elvan said in his first statement after sworn in at the parliament.

Elvan has replaced Berat Albayrak, who resigned late Sunday citing health issues. Turkish President Recep Tayyip Erdoğan on Nov. 9 officially accepted Albayrak's resignation.

Turkey will give new impetus to growth and employment, while maintaining macroeconomic stability, Elvan stressed.

The country, in cooperation with all relevant parties, will take necessary steps to increase predictability in legislation and to improve the investment environment for both domestic and international entrepreneurs, he noted.

Elvan said domestic production capacity will be expanded through transforming production processes into an export-oriented, innovative structure with reduced import dependency.