August 27, 2018 / 2:10 PM / in 8 months

France says structural reforms a must for Turkish economy

French Finance Minister Bruno Le Maire and Turkish Finance Minister Berat Albayrak attend a joint news conference after a meeting at the Bercy Finance Ministry in Paris, France, August 27, 2018. REUTERS/Benoit Tessier

PARIS (Reuters) - France on Monday encouraged Turkey to use all available economic policy tools to ensure sustainable growth, Finance Minister Bruno Le Maire said after meeting with his Turkish counterpart Berat Albayrak.

Turkey’s lira has tumbled about 40 percent this year, driven by worries over President Tayyip Erdogan’s grip on monetary policy and the stand-off with the United States over the fate of evangelical Christian Andrew Brunson.

“It is in everyone’s interest, in France, in Turkey, in Europe, that the situation stabilizes in Turkey,” Le Maire told reporters.

Le Maire said Albayrak had stressed his country’s commitment to structural reforms.

“France encourages Turkish authorities to give this absolute priority ... by using all the leverage available through economic policy.”

Reporting by Leigh Thomas and Ingrid Melander; editing by Richard Lough

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