Minister Şimşek spoke about the critical importance of structural transformation in Doha.

Statements by the Minister of Treasury and Finance Mehmet Şimşek

The Minister of Treasury and Finance Mehmet Şimşek evaluated the important gains recently achieved in the 1.6 trillion dollar Turkish economy, stating, "The main issue is the structural transformation that will make these gains permanent. Our President has declared 2026 as the 'year of structural reforms', and I am quite optimistic about this."

Structured Panel at Doha Forum 2025

Şimşek spoke at the panel titled "Shock Waves and Safety Nets: Rethinking Trade in the Age of Disruption" held at the Doha Forum 2025. The Minister emphasized that the budget deficit has decreased to 3 percent in the last 2.5 years, and the ratio of debt stock to GDP has dropped to 24 percent.

Economic Indicators and Inflation Situation

Expressing that the current account deficit has largely disappeared in the last two years, Şimşek noted that the gross reserve has increased by 120 billion dollars, while currency-protected deposits have decreased by 140 billion dollars. The Minister stated that while economic growth has averaged 5.5 percent over the last 25 years, it has now fallen to 3-4 percent, saying, "These rates are modest but manageable. Unemployment is in single digits. However, the biggest problem is inflation. Inflation has decreased from the mid-70 percent range to 31 percent and will drop to single digits."

Foreign Trade and Free Trade Agreements

Discussing changing trade policies worldwide, Şimşek mentioned that approximately 80-85 percent of Turkey's foreign trade is conducted on a rule-based basis and that 62 percent of exports go to countries with free trade agreements.

Turkey's Production Capacity and Goals

The Minister stated that Turkey ranks among the top 20 countries in the world in terms of service exports and aims to become a digital service export center in its region for sustainable growth. Şimşek expressed that Turkey is seeking to establish a free trade agreement with the Gulf Cooperation Council, stating, "We prefer rule-based trade, and therefore, we want to establish a free trade agreement with Gulf countries."

Trade Tensions and Strategies

Addressing the trade tariffs of the United States and particularly the trade tension between the US and China, the Minister indicated that the indirect effects of this situation pose a serious risk for Turkey. Şimşek added, "Logistics investments, smart financial policies, and developing rapid solutions are of great importance."

Future Strategies

Emphasizing that long-term prosperity relies on productivity increases and effective utilization of the workforce, Şimşek stated, "To enhance productivity, we must redirect resources to more productive areas."