Turkey should carry out economic reforms quickly after election - finmin (updated)

Net Holding

06/11/2015 08:51

(Adds quotes, details) 
    ANKARA, Nov 6 (Reuters) - Turkey needs to carry out economic 
reforms including to its tax system quickly and effectively 
after Sunday's general election returned the country to 
single-party rule, Finance Minister Mehmet Simsek told 
broadcaster NTV on Friday. 
    The election, which saw the ruling AK Party regain a 
majority lost only five months earlier, gives Turkey a window of 
opportunity to push ahead with badly-needed reforms, but success 
will depend on the shape of its new cabinet.  ID:nL8N12X30Y  
    Simsek, who is expected to retain a role in the new 
government, said the planned reforms would include minor changes 
in the budget and medium-term programme, but Turkey's 
macroeconomic framework would remain the same. 
    "We hope that the income tax draft will be prioritised. It's 
very important that government spending is financed through 
healthy tax revenues," he said in a live interview. 
    The reforms would strengthen the Turkish economy against 
possible volatility in emerging markets related to the expected 
hike in interest rates by the U.S. Federal Reserve, he said. 
    Simsek said Turkey would accelerate privatisations in the 
coming period, privatising ports next year and possibly holding 
a new tender for the national lottery licence. 
    In April, The Turkish Privatisation Administration (OIB)  
offered the licence to the second-highest bidder in last year's 
tender, ERG-Ahlatci, which offered $2.75 billion. It has until 
mid-December to pay. 
    "If the payment is made, the national lottery will be 
privatised. But we will not give special treatment to any 
company. We can hold a tender again," Simsek said. 
    The highest bidder at the lottery tender, a consortium led 
by a unit of Net Holding  NTHOL.IS  which bid $2.76 billion, 
failed to meet an April deadline to complete the deal. 
 
 (Reporting by Orhan Coskun and Ece Toksabay; Editing by Nick 
Tattersall) 
 ((ece.toksabay@thomsonreuters.com; +90 212 3507052; Reuters 
Messaging: ece.toksabay.reuters.com@reuters.net)) 
 
Keywords: TURKEY ECONOMY/FINANCE MINISTER