Speaking at the Bab-ı Ali Meetings, Minister Bolat addressed both global and national economic developments, highlighting the impact of the pandemic, the Russia-Ukraine war, and the 2023 earthquakes on the Turkish economy. Despite these challenges, Bolat emphasized that Turkey has maintained its resilience, stating, “In this climate, we are striving to expand our foreign trade and safeguard our country’s interests.”
2025 target: 270 billion dollars in exports
Minister of Trade Ömer Bolat stated that Turkey aims to exceed the 270 billion dollar export threshold by the end of the year. Emphasizing the contribution of the defense and aerospace industries, Bolat underlined that Turkey ranks among the world’s top 10 countries in defense exports, targeting 8.5 billion dollars in annual export volume in this sector.
Ömer Bolat also noted that Turkey currently captures a 0.8% share of global foreign direct investment annually, adding that such figures reflect growing international confidence in the Turkish economy.
Signs of improvement in inflation and financial outlook
Minister of Trade Ömer Bolat stated that Türkiye’s economic balancing and stabilization process is progressing rapidly. He noted that the Consumer Price Index (CPI) declined to 37.86% in April and that preliminary indicators point to a continued downward trend in inflation for May as well. Sharing expectations of a decline in interest rates, Bolat emphasized that the easing in inflation is likely to be accompanied by falling interest rates.
He also highlighted that policies aimed at boosting production, employment, and exports are being implemented successfully. In addition, Bolat pointed to positive developments in Türkiye’s service exports and employment figures, affirming that government support for SMEs, industry, agriculture, and exporters will continue.
Comments
No comment yet.