Turkish economy… Expectations of positive growth this year

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According to 2023 GDP data announced today by the Turkish Statistical Institute, the Turkish economy grew by 4.5 percent last year.

According to the Head of the Economics Department, in his assessment, Talha Yalta stated that growth in 2023 is very positive, especially considering the economic conditions around the world.

He pointed out that Turkey’s growth is expected to continue strongly last year as in previous years, and Yalta continued his words as follows:

“However, there is the fact that inflation is high in Turkey and in such cases the shape of growth becomes more important rather than just looking at the growth numbers.

Especially when inflation is high, growth should be considered along with income distribution. When people’s income increases, the share of food expenditure in income should decrease.

But we as consumers should see that the weight of food-related items in the basket is increasing, so policymakers around the world expect the difficult year to continue strong.

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However, I believe that Turkey has the potential to end this year with a positive growth number by remaining determined in its economic policies.

It has also been said that Turkey’s average growth is between 4 and 5 percent, so the 4.5 percent in question is included in this average.

It was said that the inflation rate is expected to rise until July and then fall due to the base effect: “If current policies continue, we can see more positive growth in the coming years by keeping inflation under control.

Everything depends on the resolute implementation of economic policies, and if we continue these policies, expectations will be positive, foreign currency inflows will increase, and inflation rates will rise.”

We can reach higher levels of growth. What is important is that “what is happening is stable growth and creates job opportunities.”