Minister Elvan Evaluated the Reform Package

Minister Elvan evaluated the reform package. Minister of Treasury and Finance Lütfi Elvan answered AA's questions.

Treasury and Finance Minister Lütfi Elvan was a guest at the AA Editorial Desk today. Answering the questions of Anadolu Agency, Minister Elvan said, "We will share our action program and calendar comprehensively on Tuesday next week at the latest." Elvan stated that they will explain the reform package announced by President Recep Tayyip Erdogan to foreign investors and G20 countries as soon as possible.   The prominent lines from the statements of the Minister of Treasury and Finance Lütfi Elvan were as follows: * Turkey has a very important window of opportunity. We want to seize opportunities with this package. * We will evaluate the success of the program with reform follow-up meetings every 3 months and present it to the public. * Immediately after the announcement of the reform program, detailed explanations about the reform program were requested from the embassies. In the coming days, we will meet with foreign investors and explain the reform program. * We will introduce cash investment incentives. We see cash investment incentives in most of the Eastern European countries. * We will offer these incentives to be competitive. * We think that budget discipline is extremely important in public finance. I can easily say that we never compromise on financial discipline. We take all kinds of measures in the field of public finance, and we will continue to do so. * We are expanding new generation working methods. We create provincial sectoral skill maps. * We are developing the Public Fleet Management System. We will increase efficiency and productivity in the procurement, use and liquidation of public vehicles. * Transparency and predictability are important for both national and international investors. We will continue our sensitivity in this regard to the end. We will strengthen auditing and increase transparency in public procurement tenders. * We aim to carry out the tax audit completely electronically. Thus, it will be completed in a very short time and a standard will be established. * In the fight against inflation, a holistic view of monetary policies, fiscal and structural policies is required. With the Price Stability Committee, we gather all parties in the fight against inflation at the same table. It is not possible to solve problems caused by supply shocks with monetary policy. We will monitor the possible effects of structural shocks with the committees we have established. * We will never intervene in the competitive market, on the contrary, we will provide support by solving the problems caused by supply shocks. * The amount of non-performing loans corresponds to a ratio of approximately 4.1% and a close follow-up rate to 10.5%. The bad debt ratio of the banks is at a manageable level. There is a high rate of provision for non-performing loans. * We are designing a structure that will include the restructuring of companies. * We want to enact an independent participation finance law that will gather interest-free financial activities under a single roof. * We will create an infrastructure for digital money. Cryptocurrency and digital currency are completely different things, it should not be confused. Like all central banks, we have concerns about cryptocurrency. I have appointed our vice minister for inspections regarding Bitcoin, and we will share it with you. We have to establish the legal infrastructure as well, we have made our preparations.