Mehmet Şimşek

Finance minister hosts CHP officials to discuss policies

Treasury and Finance Minister Mehmet Şimşek met with main opposition Republican People's Party (CHP) deputy leader for economic affairs Yalçın Karatepe on June 24, marking a move in the ongoing "softening" and "normalization" period in the Turkish politics.

The meeting also included CHP secretary-general Selin Sayek Böke and deputy leader Volkan Demir.

Markets believe program will bring inflation down: Şimşek

The market is beginning to believe that the government's economic program will bring inflation down, Finance Minister Mehmet Şimşek has said.

"Inflation may be around low 40s or high 30s later this year, and next year it might be around mid-10s and then will decline to single digits," Şimsek said at event in London organized by the Chatham House, a think tank.

Government plans new package to boost tax revenues

The government plans to introduce a bill to parliament later this week, aiming to raise additional 226 billion Turkish Liras ($7 billion), equal to about 0.7 percent of gross domestic product, in tax revenues.

The new tax package foresees increases in taxes on multinational and local companies as well as other taxes.

Work to impose tax on stock transactions postponed, says Şimşek

Work on introducing a tax on stock transactions has been postponed after feedback from all relevant parties, Finance Minister Mehmet Şimşek has said.

"We are postponing the draft tax work for the stock exchange for a while for further re-evaluation," Şimşek wrote on the social media platform X.

Şimşek expected to attend FATF meeting later this month

Finance Minister Mehmet Şimşek is expected to attend a Financial Action Task Force (FATF) meeting to be held in Singapore later this month, officials have said.

At the FATF plenary and working group meeting in Singapore on June 28, Türkiye is expected to be removed from its gray list.

The Paris-based global money-laundering watchdog added Türkiye to the list in 2021.

CHP delegation to meet finance minister for tax talks

A delegation from the main opposition Republican People's Party (CHP) is set to meet with Treasury and Finance Minister Mehmet Şimşek in the coming days to propose reforms for a "fair tax system."

The decision was reached during President Recep Tayyip Erdoğan's landmark visit to the CHP headquarters, the first in 18 years.

World Bank forecasts 3 pct growth for Türkiye this year

World Bank President Ajay Banga with Finance Minister Mehmet Şimşek in Ankara on June 11.

The World Bank has lowered its growth projection for the Turkish economy for 2024 from a previous 3.1 percent to 3 percent.

In its Global Economic Prospects Report released on June 11, the bank also cut the GDP growth forecast for 2025 from 3.3 percent in January to 3 percent.

Resilience to external shocks strengthening: Şimşek

The Turkish economy's resilience to external shocks is increasing, Treasury and Finance Minister Mehmet Şimşek has said, referring to the strengthening of foreign reserves and macro-financial stability.

For the first time since 2020, the Central Bank's net reserves, excluding swaps, moved to positive territory, Şimşek wrote on the social media platform X.

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