Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
For over a week, a single issue was on Turkey’s agenda: What happened to the money in the funds? Finance Minister Mehmet Şimşek, who had stayed silent on the crisis since it began and faced growing speculation that he would be fired, broke his silence on Sept. 24 to deny that he was leaving.
The pro-government newspaper Yeni Şafak devoted its entire front page on Sept. 9 to a scathing critique of Finance Minister Mehmet Şimşek and his policies, urging immediate shifts including tax overhauls and fuel subsidies.
During the AKP’s 33rd Consultation and Assessment meeting in Sapanca, lawmakers criticized Finance Minister Mehmet Şimşek over soaring living costs and low retirement pensions.
Is Mehmet Şimşek missing in action? No. He's still in office, still serving as the minister in charge of the economy. But that very fact is what makes people ask 'When will he step into the light?'
Finance Minister Mehmet Şimşek warned investors to expect a worsening in the country’s current account and the central bank said it expects faster inflation as strain grows on the government’s economic plans.
The central bank kept its benchmark policy rate unchanged at 37% on April 22, meeting the expectations of most analysts. The decision comes following intensified criticism of both the bank and Finance Minister Mehmet Şimşek, 59, from the business world and media outlets close to the government.
Turkey is set to become one of the world’s top 10 defense exporters this year, according to Treasury and Finance Minister Mehmet Şimşek.
As millions of retirees await a long-promised pension hike, Treasury and Finance Minister Mehmet Şimşek appeared to downplay the pressure caused by rising rents. Speaking at the ruling AKP’s Kızılcahamam retreat, Şimşek said: “72% of the population owns their home, 28% rent, and only 14% of retirees are renters,” according to pro-government columnist Abdulkadir Selvi.
As millions of retirees await a long-promised pension hike, Treasury and Finance Minister Mehmet Şimşek appeared to downplay the pressure caused by rising rents. Speaking at the ruling AKP’s Kızılcahamam retreat, Şimşek said: “72% of the population owns their home, 28% rent, and only 14% of retirees are renters,” according to pro-government columnist Abdulkadir Selvi.
In contrast to Finance Minister Mehmet Şimşek’s positive messages following the EU - Turkey High-Level Economic Dialogue, the meeting, which took place after a six-year hiatus, ended without a substantial road map to revive relations. As developments in transatlantic relations appeared to be raising Turkey’s value as a geostrategic asset, Ankara hoped to seize the opportunity to improve relations with the EU. Yet, European enthusiasm towards Turkey’s military strength remained limited, while the arrest of Istanbul's Mayor Ekrem İmamoğlu has made life difficult for those favoring a speedier rapprochement.