April 14, 2017 / 7:11 AM / 4 months ago

Turkey's sovereign wealth fund could buy foreign brand or bank - Erdogan adviser

ANKARA, April 14 (Reuters) - Turkey's new sovereign wealth fund could purchase a brand or a bank abroad, an adviser to President Tayyip Erdogan said on Friday, adding that the fund would start operations after its three-year strategy is announced.

Speaking in an interview with state broadcaster TRT, adviser Cemil Ertem said the fund may make purchases on Turkey's bourse. The government has already transferred billions of dollars in stakes of Turkish Airlines, major banks and other companies to the fund to finance big-ticket infrastructure projects.

Ertem also said he expected inflation to fall rapidly from the second half of 2017, after annual inflation hit its highest in 8-1/2 years in March as chronic weakness in the lira currency stoked a surge in consumer prices. (Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by Daren Butler)

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