Erdoğan: The worst is over for the Turkish economy
Turkish President Recep Tayyip Erdoğan praised the great improvement in the Turkish economy in various aspects, from exports to domestic consumption, saying that the economy has passed the worst stage in a speech delivered on 17 June to the conference of the Turkish Exporters Council.
“Turkish exports saw an increase of 8.9 percent in the first five months, according to the annual comparison, thanks to the great efforts of our exporters,” he said. Of growth in the first quarter, 2.2 percent of which is from foreign trade only. ”
“I am pleased to see that Turkey’s exports have become an engine for our GDP growth after a five-quarter-year slowdown, and I think we will see further growth in this area in the coming period.”
Erdogan noted that nearly 1.2 million new jobs have been created since February, in line with the government’s campaign to promote job creation in both the public and private sectors. “Our number of jobs has exceeded 27.5 million again, The levels we have reached before the failed coup attempt in July 2016. I am confident that we will see unemployment rates from a single figure only once again, and that current jobs, exports and tax incentives are encouraging more business people to invest in the country. ”
The Turkish president said that the decline in foreign currency exchange rates against the Turkish lira and the continuing record levels in the Turkish stock market also fueled the positive outlook in the Turkish economy. The low credit deficit and the recent stability in financial assets indicate that things are moving in the right direction.
He announced that the Turkish government will increase in the coming period incentives to exporters, expressing confidence in compensating the losses of the tourism sector, which amounted to 10 billion dollars through exports, and stressed the importance of rising foreign exchange and gold reserves in the Central Bank.
Source: Turk Press