Recep Tayyip Erdogan appointed Mehmet Şimsek as the Minister of Finance of Turkey

While announcing the composition of the Cabinet of Ministers for the new five-year term, Turkish President Recep Tayyip Erdogan on Saturday appointed the former head of economy, Mehmet Simshay, as the Minister of Treasury and Finance. Shimsek was highly appreciated by investors during his tenure as finance minister and deputy prime minister between 2009 and 2018. Reuters reported this week that Erdogan seemed almost certain to include Simsek in his new cabinet as either finance minister or vice president in charge of finance. economy. His appointment could be a departure from years of unorthodox economic policies under Erdogan, which included sticking to low interest rates despite high inflation and heavy state control of markets.