Şimşek: Foreign capital inflows exceeded expectations

Treasury and Finance Minister Mehmet Şimşek stated that they have made good progress and that foreign inflows have exceeded expectations. Answering Bloomberg's questions in Ankara, Treasury and Finance Minister Mehmet Şimşek stated that capital inflows were higher than they had anticipated. Şimşek stated that the combination of sound policies and structural transformation is a good discourse that has helped restore investor confidence, and that this has helped portfolio preferences turn in favor of Turkish assets, translated into inflows and helped stabilize the real exchange rate. Şimşek said that Turkey is exploring ways to relax regulations on offshore markets and may start with relatively long-term swaps. Şimek said, “We know what needs to be done, but the timing, order and dose have not been decided,” and continued, “We are still in the early stages of this process. I am not saying that we have overcome all the difficulties, but we have made good progress.”