Turkey's Simsek to oversee economy in new cabinet: government spokesman

ANKARA (Reuters) - Turkish Deputy Prime Minister Mehmet Simsek will have oversight of the economy in the new cabinet, a government spokesman said on Monday, a move that is likely to be welcomed by investors.

Turkey's Simsek to oversee economy in new cabinet: gov't spokesman

Turkey's Simsek to oversee economy in new cabinet: gov't spokesman

The former Wall Street banker will oversee economic coordination, banks and economic institutions, Deputy Prime Minister Bekir Bozdag told a news conference.
Simsek, widely respected by investors, was the only one of five deputy prime ministers to retain his post after Prime Minister Binali Yildirim reshuffled the cabinet last week.
In the previous cabinet Simsek shared some economic responsibilities with Nurettin Canikli, who had oversight of commercial lenders and capital markets. Canikli was made defense minister.
Bozdag, who will function as the government spokesman in the new cabinet, also said that Deputy Prime Minister Fikri Isik would oversee investments. It was not immediately clear whether that would overlap with Simsek's remit.
Simsek, who has also worked in London, is seen as a rare anchor of investor confidence in a cabinet filled with politicians who favor borrowing to spur growth rather than focusing on saving and investor-friendly reform.

(Reporting by Tuvan Gumrukcu; Editing by David Dolan)

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