New Finance Minister Raises Hopes for Economic Reform in Turkey

Turkish investors are optimistic Mehmet Simsek's appointment as economic czar will lead to more orthodox policies.
Simsek's success depends on patience from markets, domestic confidence, external help, and Erdogan's support.
Simsek aims to stabilize Turkey's economy and achieve its potential, but avoiding crisis requires time to implement reforms.
Simsek is known for market-friendly policies and was deputy PM and finance minister, but some doubt Erdogan will tolerate pragmatism.
Though the lira has weakened, Simsek's appointment could signal policy shift, but analysts remain cautious about Erdogan ceding control.