Treasury and Finance Minister Mehmet Şimşek noted that Türkiye’s economy would be guided by the principles of transparency, accountability, predictability and consistency in the new term.

"Our guiding principles for creating a more prosperous and resilient Türkiye will be transparency, consistency, accountability and predictability," tweeted Treasury and Finance Minister Mehmet Şimşek, who was appointed to the position on Saturday after the reelection of President Recep Tayyip Erdoğan last month.

Şimşek said his priority would be to strengthen his team and "design a credible program."

"As we navigate through domestic and international challenges, we affirm our commitment to rules based policy making to enhance predictability," he said.

While underlining that there would be no "shortcuts or quick fixes," he said experience, knowledge and dedication would "help us overcome potential impediments ahead."

Şimşek said on Sunday that a rule-based, predictable Turkish economy would be the key to achieving the desired prosperity.

Referring to his role in past Turkish governments, he stressed: "After a five-year break, I just had the distinct honor and privilege of being sworn in as Treasury & Finance Minister.

"I am grateful to President (Recep Tayyip Erdoğan) for entrusting me with the responsibility of serving our people in this capacity."

In previous governments, Şimşek had assumed various positions including state minister in charge of the Treasury, finance minister, and deputy prime minister in charge of the economy.