Erdogan aims to reduce inflation to single digits

Published June 17th, 2023 - 01:12 GMT
Erdogan
afp

Albawaba - President Erdogan delivered a speech at the 30th General Assembly of the Turkish Exporters Assembly, highlighting the government's commitment to bringing inflation down to single digits as a top priority for the new economic team.

Key points from President Erdogan's speech:

President Erdogan praised Turkish exporters as symbols of the country's growing economic strength. Their contributions to employment and exports have made Turkish products with the "Made in Turkey" label ubiquitous worldwide.

Throughout their political journey, President Erdogan expressed solidarity with exporters, addressing their concerns and offering long-term solutions. The Turkish Exporters Assembly played a crucial role in communicating challenges and providing valuable recommendations.

The government wasted no time in taking action, swiftly responding to demands from the business community. Measures included extending investment incentives in disaster-stricken areas, raising the upper limit for SME classification, and extending support for the minimum wage.

President Erdogan proudly emphasized the significant progress made in export achievements, transforming Turkey into a prominent global production hub. The country's annual exports, once limited to $36 billion, have now reached impressive figures, surpassing $254.2 billion in 2022 alone.

Service exports witnessed remarkable growth, surpassing $90 billion, while defense exports experienced a substantial increase, reaching $4.3 billion. The number of export companies also saw a significant rise, reaching 114,561, reflecting the vibrant entrepreneurial spirit in Turkey.

President Erdogan acknowledged the challenges faced due to the devastating earthquakes that affected multiple provinces, causing extensive damage. However, the government swiftly mobilized support for affected businesses, ensuring a speedy recovery and mitigating the adverse economic impact.

In conclusion, President Erdogan's address highlighted the government's determination to tackle inflation and emphasized the remarkable achievements of Turkish exporters in driving the country's economic growth.

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