Finance Minister Lutfi Elvan says Ankara will establish a finance-tech base and create lira-equivalent digital money.
Among the first steps will be strengthening public finance structures to guard against risks, says Turkey’s President Erdogan.
The central bank will implement confidence-oriented monetary policy to achieve its main goal of price stability, says Governor Naci Agbal.
The Turkish economy expanded 5.9 percent in the fourth quarter, bringing the year-on-year growth of 2020 to 1.8 percent, the country's statistical authority announced.
Turkey's President Recep Tayyip Erdogan said Turkish companies that cater to an international market, value innovation and research and development pulled through the Covid-19 fallout with the least damage.
Last month, the United States imposed sanctions on Turkey’s defence industry chief and others over Ankara’s acquisition of S-400 missile defence systems from Russia, a move that Turkey called a “grave mistake.”
Turkish economy is projected to grow 2.6 percent and 3.5 percent in 2021 and 2022 respectively in latest economic survey by Organisation for Economic Co-operation and Development.
"We are working on both strengthening our economic policies and raising the bar of democracy and freedoms while easing daily life for our citizens," the Turkish president says.
Turkey has begun a fresh era of reforms in the economy and judiciary, President Recep Tayyip Erdogan says.
Both Lutfi Elvan and Naci Agbal are experienced hands who understand the lira’s vulnerability and other challenges confronting the economy.
President Erdogan vows a new era to improve the investment climate in Turkey, in a speech that caused the US dollar to Turkish lira exchange rate to fall below 8.
Turkey's President Erdogan says Turkey has discovered an additional 85 billion cubic metres of natural gas in Sakarya field off Black Sea coast, in addition to previous 320 billion cubic metres.
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