Newsletters
Türkiye's Finance Minister Mehmet Simsek outlined the country's approach to navigating economic turbulence during a conference in Saudi Arabia, crediting both fortune and sound management for the nation's relative resilience amid 2025's challenging global landscape.
Speaking at the event, Simsek acknowledged the difficulty of the current year but expressed confidence in Türkiye's position. "We were a bit lucky and we managed the process correctly," he said when asked how the country has handled recent pressures.
The minister pointed to Türkiye's extensive trade framework as a key stabilizing factor, noting the country's customs union agreement with the European Union and free trade agreements with 27 nations. Foreign direct investment accounts for a significant portion of economic activity, with Simsek stating that such investments "make up 62 percent of our exports."
He emphasized that as long as Türkiye's trading partners face similar conditions, these investments serve as a source of stability. "It brings you to a slightly less vulnerable point," Simsek explained.
Türkiye ranks among the top 20 countries globally in commercial activities within the services sector, according to the minister. Tourism, construction, and even television series exports number among the country's strongest performers in this area.
"The service side is our strong point," Simsek said, adding that service exports have not yet been affected by protectionist measures. "We see this as an advantage and we are focusing our attention here."
Despite ongoing conflicts and tensions in the region, Simsek characterized Türkiye's economic position as solid, with resilient growth and trade. The minister said the country is managing its imbalances while implementing structural solutions.
"We see ourselves at a relatively less vulnerable point," he noted, crediting programs implemented in recent years with supporting the economy's current standing.
Set as preferred source
Set as preferred source
1 min read
1 min read
