"Simsek's Appointment Brings Hope for Turkey's Economic Stability"

Turkey's President Recep Tayyip Erdogan has appointed former economy chief Mehmet Simsek as the new treasury and finance minister, leading to optimism that the country will now forge a new economic path. Goldman Sachs' analysts believe the new appointment could bring about a greater chance of more orthodox policies. Turkey's monetary policy currently places an emphasis on the pursuit of growth and export competition rather than taming inflation. The Turkish lira has been on a significant depreciation lower in recent years, in part due to Erdogan's policies and his influence over the country's central bank.