ANKARA, April 14 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
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)