Turkey’s new finance minister pledges return to ‘rational’ economic policy

Turkey’s new finance minister has vowed to return to “rational” policies after years in which President Recep Tayyip Erdoğan’s unconventional strategy put the country’s $900bn economy under intense strain and sent the lira to record lows.

“Transparency, consistency, predictability and compliance with international norms will be our basic principles in achieving the goal of raising social welfare,” Mehmet Şimşek said on Sunday at a handover ceremony with his predecessor Nureddin Nebati.