Connect with us

Politics

Turkey pledges to strengthen financial institutions and democracy

Avatar

Published

on


“We are working both to strengthen our economic policies and to raise the bar of democracy and freedoms while facilitating the daily life of our citizens,” said the Turkish president.

President Recep Tayyip Erdogan accompanied by Izmir MP from AK Party Binali Yildirim, Director of Communication Fahrettin Altun attends 18th MUSIAD EXPO, Istanbul, Turkey, November 20, 2020.

President Recep Tayyip Erdogan accompanied by Izmir MP from AK Party Binali Yildirim, Director of Communications Fahrettin Altun, attends 18th MUSIAD EXPO, Istanbul, Turkey, November 20, 2020 (AA)

The new Turkish Minister of Treasury and Finance has pledged to increase the “operational skills” of all financial and relevant institutions.

Following a decision by the country’s central bank to raise interest rates on Thursday, Lutfi Elvan said that the proper functioning of the bank’s monetary transmission mechanism would be essential for price stability.

“The bank is responsible for determining and implementing the policies and tools that will ensure price stability,” he said on Friday, adding that it would adopt a simple monetary policy framework in the period to come.

It is important that the credit and deposit markets operate in a competitive structure, the minister said.

“In this context, it is vital to reduce intermediation costs and to establish prices in the credit and deposit markets under the free market mechanism,” he said.

Achieving macroeconomic stability, including price stability, will be an essential condition for sustainable growth and improved social well-being, he stressed.

“In this context, we will formulate our fiscal policies, our financial sector policies and our public finance policies in a way that will permanently support macroeconomic stability, in addition to the monetary policy measures that are taken.”

“ Price stability to stimulate sustainable growth ”

Supporting a price stability-oriented monetary policy with public fiscal discipline, and setting public wages and prices in line with inflation targets, will be essential for the rapid convergence of expectations and inflation targets, Elvan pointed out.

“The main objective of economic policies is to increase social welfare, which includes employment growth, a fair distribution of income and sustainable growth,” said the minister.

“The prerequisite for this is macroeconomic stability.”

There is no doubt, he added, that price stability contributes to sustainable growth and social well-being by increasing the predictability of the economy.

“This is a generally accepted situation, as the experiences of Turkey and other countries demonstrate,” he said.

Turkey’s central bank raised its one-week repo rate – also known as the bank’s policy rate – from 10.25% to 15% on Thursday, tightening monetary policy to ensure price stability.

A new era for the economy, for democracy

President Recep Tayyip Erdogan said on Friday that the Turkish government is also determined to bring a new boom era for democracy.

“We are working to both strengthen our economic policies and raise the bar of democracy and freedoms while making everyday life easier for our citizens,” Erdogan said in his speech at a trade fair in Istanbul.

Noting that the support of business circles and citizens is crucial to achieve economic goals, Erdogan said: “First of all, we must bring savings abroad to our country”.

He urged the business circle to invest money in investments, jobs, production and exports.

Investments that boost production and employment will be accelerated by mobilizing national and international entrepreneurs, Erdogan added.

“We must strengthen the confidence of our nation and investors in our national currency, the Turkish lira, and thus reduce the weight of foreign currencies in deposits,” he noted.

Source: AA

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]