ISTANBUL
Turkish Minister of Finance Mehmet Simsek on Friday said, "Economic success is determined by political stability. Political stability alone is also not enough, good policies must be implemented. Financial adjustments carry great importance to re-establish stability in the region."
Simsek delivered a speech at the "Turkish-Arabic relations after the Arab Spring" titled panel discussion at the 8th Turkish-Arab Economic Forum in Istanbul.
Stating that politics determined economic stability and macroeconomic stability partly depended on political stability, Simsek emphasized the importance of diversifying economic activity.
"There are many uncertainties in the short term. The Arab Spring or whatever you would like to call it, will reach better democratic standards in the long term," Simsek said in regards to the Middle East region.
Reminding that a single party governed Turkey in the last ten years, Simsek said, "Economic success is determined by political stability. Political stability alone is also not enough, good policies must be implemented. Financial adjustments carry great importance to re-establish stability in the region."
