President of Turkey Recep Tayyip Erdogan met with former economy chief Mehmet Simsek, but did not announce whether he would return to the post he held until 2015.

In response to a related question, spokesman Ibrahim Kalin said: “As you know, Mr. Simsek met with our president. I also spoke to him on the phone several times. He has already stated that he supports the president, regardless of his office and position.

Rumors were fueled when Simsek attended a campaign event in Batman’s hometown in southeastern Turkey with Recep Tayyip Erdogan in April. Earlier in March, the two men met again, sparking rumors. Simsek said at the time that he wanted to stay out of active politics.

Sources said at the time that Erdogan wants to give Simsek, who is highly respected in international circles, a major role in running the economy. “The approach to the economy is similar to that adopted by the AKP in its 2002 election manifesto. In other words, the AKP is returning to its roots,” a government official said.

“All of Türkiye knows the approach and success of Simsek,” said the representative of the ruling party. As he commented, “if Simsek takes office, a radical change in economic policy is inevitable, bureaucrats and cabinet members will work in harmony with him.”

Since Simsek stepped down as deputy prime minister in 2018, the Turkish president has become more influential in managing the economy.

In 2021, against the background of high inflation, the process of lowering interest rates began, contrary to the traditional monetary policy and the global trend of rising borrowing costs. Turkey’s central bank cut its benchmark interest rate by 500 basis points in 2021 and 2022 in response to Erdogan’s calls for rate cuts.

Combined with a sharp rise in energy and food prices following the Russian invasion of Ukraine in February 2022, inflation in Turkey exceeded 85%.

The financial situation was also worsened by a massive earthquake in southeastern Turkey on February 6, which left millions homeless and caused billions of dollars in damage.

According to Reuters