President Tayyip Erdoğan Touched on Economic Developments

President Tayyip Erdoğan made statements about the economy on the 32nd anniversary of MUSIAD. In his evaluation, "We are struggling with pricing far from rational."

Participating in the 32nd anniversary of MUSIAD, Recep Tayyip Erdoğan said: "We will protect these brothers and sisters who took refuge in our country after leaving the war in Syria." President Erdoğan made the following remarks in his prominent statements: “Tens of thousands of our people, including our women and young people, are achieving similar successes all over our country. Currently, the number of startups that have reached a valuation of 1 billion dollars and above has reached 6. Most of the time, our factories work in 3 shifts and try to meet their orders. Investment appetite of domestic and foreign entrepreneurs is constantly increasing. We reached over 30 million in employment. Industrial production and exports are increasing every month by breaking records. As of April, our 12-month exports exceeded 240 billion dollars. The ratio of exports to imports, excluding energy, exceeded 100 percent. Turkey, which exported 36 billion dollars 20 years ago, has reached the level where it can realize this figure in 30-35 days. We are moving forward with firm steps, which is our year-end target of 250 billion dollars. The exponential increase in energy, food and raw material prices unfortunately fuels inflation all over the world, and inflation has become a common problem for everyone. As a part of the global economy, the Turkish economy is inevitably affected by all these negative developments, and we also struggle with currency pressure and pricing habits that are far from rational. Turkey is an energy-poor country, yet Turkey has the lowest energy cost in terms of the price reflected to the users. We are working day and night to activate our nuclear power plants, hopefully we will finish Akkuyu by the end of 2023.”