WASHINGTON, D.C. - Mehmet Simsek, Turkish State Minister for Treasury, said uncertainty with the economy in the short term grew due to closure case against ruling Justice & Development (AK) Party but influence of domestic and external shocks in the medium and long terms will be limited because the outlook on Turkish economy is strong.
Simsek who had a meeting with International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn in Washington, D.C., delivered a speech at Georgetown University on Turkish economy.
Simsek said development cannot be measured with only the condition of debts and markets, and education and supremacy of law are important too.
Supremacy of law is one of the most important elements for a good economic outlook, Simsek said. "Turkey has passed through a big transformation, and it targets to be among the top ten in global economy."
Simsek also defined social security reform as the most important one that has ever made in Turkey.
Upon a question, Simsek said Strauss-Kahn and he discussed the progress which has been recorded so far. "Turkey completed two IMF programs very successfully. The government strongly advocates itself to the program," he noted.
Simsek said they agreed to combine the rest of the reviews of Turkey`s program with the IMF.
Following his speech, Simsek departed from Washington, D.C. He is expected to return to Turkey via New York, the United States.
(GC-MS)