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Turkey Reveals New Economic Model 

Treasury and Finance Minister Berat Albayrak unveiled Turkey’s new economic model during a meeting with private sector representatives on August 10th in Istanbul Dolmabahçe Palace. Albayrak underlined that the principles of the new economic model include establishing trust and communication with all market actors, restoring budget balance and improving its quality, a tight monetary and fiscal policy, the independence of the Central Bank of the Republic of Turkey, prioritizing structural reforms, and lowering the current account deficit.


On 16th of August, Albayrak also held a teleconference with international investors from the US, Europe, and the Middle East that was organized in coordination with Citibank, Deutsche Bank, DOME Group, and HSBC. During the meeting Albayrak said that the fall in the Turkish lira was out of line with Turkey’s fundamentals and he assured the investors that Turkey would tighten its fiscal policy, undertake structural reforms, and not impose any capital controls.

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