During his visit to the United States for the 79th United Nations General Assembly, Minister Şimşek has been actively discussing Turkey’s economic policies. He attended a meeting hosted by leading American investment bank Goldman Sachs and held discussions with the senior management of Citigroup and Morgan Stanley.
The meeting featured portfolio managers and investors from some of the world’s largest funds, where Minister Şimşek presented Turkey’s economic program, receiving praise for its effectiveness.
A Warm Reception for Turkey’s Economic Program
At the Investment Conference organized by the Foreign Economic Relations Board (DEIK) Turkey-U.S. Business Council (TAIK) in collaboration with Goldman Sachs, Şimşek delivered a detailed presentation. During the event, which was moderated by Jared Cohen, President of Global Relations at Goldman Sachs, he addressed questions from the audience.
Participants at the Goldman Sachs meeting applauded the program’s success, showcasing strong interest and engagement.
Productive Meetings with International Leaders
Minister Şimşek also conducted bilateral meetings in New York, including discussions with Nick Clegg, President of Global Relations at META, and Makhtar Diop, President of the International Finance Corporation (IFC). Additionally, he participated in a gathering hosted by the Anatolian Lions Businessmen’s Association (ASKON) for American-Turkish business leaders.
Clear Message to Investors: “No New Taxes”
In these meetings, Minister Şimşek communicated to investors that strict fiscal policies would focus on spending discipline and combating informal economy practices, confirming that there are no plans for new additional taxes.
Looking ahead, Turkey is expected to secure $9 billion in financing from the IFC between 2024 and 2028. So far, $600 million has been provided for the private sector in the fiscal year 2025, with an estimated $3.6 billion set for the fiscal year 2024.
In my view, Minister Şimşek’s clear communication regarding no new taxes is a reassuring message for investors. Stability and predictability in fiscal policy are crucial for fostering investor confidence, and his proactive approach in engaging with major financial institutions could help strengthen Turkey’s economic ties and attract further investment.
