April 18 (Reuters) - Turkey's monetary policy set in place is fully functional and the policy mix going forward will be more supportive, but more time is needed to see its effects and convince society at large, Finance Minister Mehmet Simsek said on Thursday.
"We're doing all the right things, we're on the right track, but we need time to show results, to convince the broader society," Simsek said at an event on the sidelines of the International Monetary Fund/World Bank spring meetings in Washington.
Simsek said part of the structural transformation of Turkey's economy goes along with a new industrial policy, which he said will be "pretty transparent and rules-based."
"We want to channel resources to more productive areas, to reduce our carbon footprint, to make the economy more competitive, but also to see how we can enhance growth potential to higher productivity," Simsek said.
"When it comes to economic complexity, we know where we stand in the value chain. We're not where we would like to be, and that's why the reform comes in."
(Reporting by Rodrigo Campos in New York and Huseyin Hayatsever in Ankara; Editing by Chizu Nomiyama and Andrea Ricci)
