Good news about the economy from Vice President Cevdet Yılmaz: It passed the 1 trillion dollar level for the first time in its history

Good news about the economy from Vice President Cevdet Yılmaz: It passed the 1 trillion dollar level for the first time in its history


Noting that they shape and implement all policies in consultation, Yılmaz said, “Whether it is economic policy or social policy, Vice President Cevdet Yılmaz met with the business world and opinion leaders in a 5-star hotel in Antalya’s Kemer district. Policies with non-governmental organizations, opinion leaders in all fields. “We do all our work in consultation with the business world. I hope that this consultation meeting we will hold with you today will be beneficial,” he said.

‘MORE THAN 57 MILLION FOREIGN TOURISTS CAME TO TURKEY’

Noting that Antalya is a very valuable province and is generally associated with tourism, Yılmaz said, “We call Antalya the capital of tourism. Last year, more than 57 million foreign tourists came to Turkey. More than 16 million of these came to Antalya. It was a record. We saw the highest number in Antalya in our history. Our total revenues exceeded 54 billion dollars last year. Despite what? Despite many geopolitical tensions and conflicts, despite many economic problems in the world, our tourism is really good “It showed a good performance. I would like to wholeheartedly thank all members of the tourism sector, from employees to business owners and managers, who showed this performance. They have reduced our country’s significant foreign exchange deficit,” he said.

‘WE HAVE TRIED TO PROVIDE EVERY KIND OF SUPPORT TO ANTALYA’

Underlining that Antalya is a very valuable province, Yılmaz continued his speech as follows:

“As the central administration, we have tried to provide all kinds of support to Antalya so far. We have never neglected Antalya in investments. On the contrary, we supported it with all our strength. I guess everyone here sees and appreciates our President’s interest and love for Antalya. In the past, Very important projects have been carried out. When you look at the investments made in the transportation sector, hospitals and universities, the holding of international fairs such as EXPO, the investments made on that occasion, dams, ponds, we have made many central administration investments. We still have very important projects in the coming period. Antalya Airport international terminal. We are making new additions. This project is also a huge one. It is worth 750 million Euros. When we finish this, the airport, which has a capacity of 35 million passengers, will be able to host 80 million passengers. I think the business people here will best appreciate how meaningful this is in terms of tourism. “

‘BOTH WORLD TRADE AND WORLD GROWTH ARE MUCH BELOW THE HISTORICAL AVERAGES’

Expressing that they are going through a difficult period, Yılmaz said, “It is a truly difficult period for the world. Both world trade and world growth are well below historical averages. If we say the last 20 years, the average world has grown by 3.6 percent annually in the last 20 years. In recent times, this has been quite high.” It has decreased. Between 2020 and 2022, it fell to around 2 percent. It is currently around 3 percent. In other words, the world continues on its way with a growth below historical averages. We have experienced the pandemic scourge. This has also affected the economy greatly. On the other hand, there are these wars and conflicts that we call geopolitical developments. There are many areas of conflict in the Middle East. Unfortunately, we are seeing the events in Gaza, which hurt all of us, with a heavy heart. We are making every effort to ensure that this ceasefire is reached as soon as possible for our brothers there. We are also using all our means in humanitarian aid. We stand with our Palestinian brothers. But we also see the pain together. We are in a period where the Ukrainian-Russian conflict, the troubles in the Caucasus and many other geopolitical tensions are experienced. Despite this, our growth is going well. On the other hand, we experienced an earthquake. Our population of nearly 14 million in 11 provinces was affected by this. This is more than the population of many countries in Europe. 14 million population is not a small thing. The greatest disaster in our history. We pray may God have mercy on him. To the people we lost. We pray that God never shows such days again. But we are and will continue to make every effort to heal the wounds of this earthquake. Emergency interventions are over. Now we are building permanent housing. We build guests in hundreds of thousands of cities and rural areas. We have already delivered more than 40 thousand of these. We will continue by delivering 15-20 thousand of them every month. We will heal the wounds of the earthquake. “We are trying to bring the region to a better point than before, with its roads, natural gas connection, hospital, school, all landscaping, ground water, electricity, everything,” he said.

‘OUR ECONOMY PASSED THE 1 TRILLION DOLLAR LEVEL FOR THE FIRST TIME IN ITS HISTORY’

Cevdet Yılmaz stated that the Turkish economy was going well despite the heavy burden of the earthquake.

“When we compare it with the rest of the world, it is showing a very good performance. Last year’s figures were announced at the end of February. Our fourth quarter figures are also out. Accordingly, for the first time, our economy has exceeded the 1 trillion dollar level. For the first time in its history, it has reached 1 trillion 119 billion dollars and our per capita income has reached 13 trillion dollars.” It was calculated as 13 thousand 110 dollars, exceeding a thousand dollars. These are the highest figures in our history. If we talk in dollar terms, Turkey is the 17th largest economy in the world with these figures. According to a calculation called purchasing power, it is in the 11th position. Therefore, our economic growth is really good. “Our employment also continued to increase. At the end of last year, we exceeded 32 million in employment. This is also a historical level. And we closed unemployment with single digit figures.”

he said.

‘WE WILL SEE THE DECLINE IN INFLATION IN THE SECOND HALF OF THE YEAR’

Stating that they are following new policies and have determined programs regarding inflation, Yılmaz said that political uncertainties are over after the elections in May.

Yılmaz said, “The basis of the economy is political stability. There is no economic stability without political stability. Therefore, we reinforced our stability. Then we prepared a medium-term program and a 5-year development plan. We shaped our road maps. We increased predictability. We did these and now we are implementing our program really effectively.” Since we experienced high inflation in the summer months of last year, this will keep annual inflation high for a while. In other words, inflation will follow such a course until May. On an annual basis. I hope we will see a significant decrease in inflation from June and July. On an annual basis. On a monthly basis anyway. We started to see it. It was a somewhat temporary situation in January. Monthly inflation was a little high because annual adjustments were made in January, but we expect a gradual decrease in the following months. Considering all the balances, we will see inflation gradually reach 15 percent next year. I hope we will reach single digit figures in this country again in 2026. We don’t say this just for fun. We have made the plan, program and road map for this. “We are implementing these policies step by step,” he said.

‘DESPITE THE STAGE IN EUROPE, OUR EXPORTS FOUND 256 BILLION DOLLARS’

Pointing out that Turkey’s current account deficit was around 60 billion dollars in the middle of last year, Yılmaz said, “We have reduced Turkey’s current account deficit to the outside world to 45 billion dollars at the end of the year. Hopefully, it will come down even further. Our export level is also at a good level.” It has reached this point. Despite the recession in Europe, which is our main export market, our exports reached 256 billion dollars. This is a record in terms of exports. Therefore, there are also important developments in our external balance. Our banking system is strong. Capital, adequacy ratios, asset quality “We have a really good financial banking system. The rate of non-performing loans is low. We do not have a problem there. Our Central Bank’s reserves had decreased a little. A recovery process has begun there as well. We have come a long way,” he said.

‘WE EXPECT EXPANSIONIST POLICIES IN DEVELOPED COUNTRIES FROM THE SECOND HALF OF THIS YEAR’

Vice President Cevdet Yılmaz said that they expect more expansionist policies in developed countries, starting from the second half of this year, and said, “So they will probably start to reduce interest rates slowly. This will create a new capital flow to developing countries. We will benefit from this new flow with the effective policies we follow in an environment of political trust and stability.” I hope we will benefit more. More capital, but what do we want? We say long-term, permanent capital should come. In this context, we go abroad and promote it. We explain our new policies. Foreigners also want to make new investments, looking at the environment in Turkey. In the coming period, they want to make new investments. “I hope we will see more of it,” he said.



Source link