Simsek: Current account deficit will be reasonable

Finance Minister Mehmet Simsek said the current account deficit of Turkey will be reasonable in the midterm. Speaking at a meeting in Istanbul, Sımsek said the government is making and applying radical reforms for this goal but it needs time to see the conclusions. On turning Istanbul into a financial center, Simsek said the city has a great capacity to become one of the world’s top financial hubs. “In order to attract asset management to Istanbul, we have excluded global funds from taxation," Simsek stressed, noting that Istanbul's becoming a financial center would have a positive impact on employment.