Published On: Sun, Sep 30th, 2018

Turkey’s Ministry of Treasury & Finance releases statement on McKinsey allegations

Turkey's Ministry of Treasury & Finance releases statement on McKinsey allegations

A statement has been made by the Ministry of Treasury and Ministry of Finance on the McKinsey allegations. The statement said, “Some unreal imaginary evaluations such as Turkey is going back to IMF program again have been made. Consultancy  company (meaning McKinsey) will have no executive function or authority. Under the New Economy Program, Public Finance Exchange and Transformation Office will be established”.

The statement went on as follows:

Mr. ALBAYRAK, The Minister of Treasury and Finance announced the New Economic Program on 20 September 2018. One of the main elements of the new Economic Program is the provision of fiscal discipline and strong and sustainable public finance. In this context, the New Economic Program envisages saving on expenditures regarding public finance and taking additional income generating measures..

The Public Finance Transformation and Change Office will be established within the Ministry of Treasury and Finance in order to ensure that these saving and income measures are effectively fulfilled.

Said office will be responsible for the implementation of the measures foreseen in the New Economic Program for public finance as well as designing the new measures on the basis of continuity and the implementation of said additional measures. This office consists of our own human resources. It is composed of current employees of the Ministry of Treasury and Finance who are all public officials.

Within a short period of time, officials from other ministries, state banks and other state institutions will be included in the process and thus, a common business culture between institutions will be developed to achieve rapid results. In this context, it has been foreseen for the office to receive consultancy when deemed necessary to analyze the most successful examples in the world in working methods”.

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