Former Deputy Prime Minister and former Finance Minister Mehmet Simsek has accepted the proposal of the re-elected President Recep Tayyip Erdogan on managing the economy in a new period, Report informs referring to Hürriyet newspaper.

“One of the most important positions in this cabinet was the management of the economy. Local and foreign investors asked if Mehmet Simsek would take over the management of the economy. Yesterday, Mehmet Simsek met with President Erdogan twice and finally decided to take over,” reads the statement.

Simsek received guarantees from the Turkish leader regarding the management of the Central Bank and interest rates.

Turkish media portray Simsek as one of the most professional economists in the country, periodically reporting that he may take a seat in the new Cabinet or become vice president in charge of the economic sector.