Vice President Yılmaz Forecasts 4.4 Percent Growth in MTP

Turkey’s Vice President Cevdet Yılmaz has pointed out a positive trend in the country’s current account deficit and an increase in capital inflow. He expressed confidence that the Turkish economy is well-positioned to achieve the 4.4 percent growth rate projected in the Medium Term Program.

Yılmaz made these remarks at the Turkey-Kyrgyzstan Business Forum organized in collaboration with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Foreign Economic Relations Board (DEİK). He emphasized that despite challenges in the global economy and domestic conditions, Turkey’s economy has continued to grow steadily, with a growth rate of 4 percent in the first quarter of 2023, 3.9 percent in the second quarter, and 5.9 percent in the third quarter.

Pointing to an average growth rate of 4.7% in the first 9 months of the year, Yılmaz expressed optimism about achieving the 4.4 percent growth rate laid out in the Medium Term Program. He also highlighted Turkey’s economic strength, with the country expected to reach an economic size of around 1.1 trillion in dollar terms, according to estimates by the IMF.

Yılmaz praised the performance of Turkish exporters, noting that exports had increased significantly from 36 billion dollars in 2002 to 254 billion in 2022, reaching a historical level of 256 billion dollars in 2023. He attributed this success to the resilience and determination of Turkish exporters in the face of global challenges.

On the international front, Yılmaz commended the growth of trade relations between Turkey and Kyrgyzstan, with a target to increase the trade volume to 1 billion dollars exceeded in 2022. Additionally, he highlighted the significant Turkish investments in Kyrgyzstan, emphasizing the positive impact of mutual investment and contracting relations on development and employment in both countries.

Yılmaz also extended support for the National Development Strategy of Kyrgyzstan, expressing Turkey’s commitment to contributing to the country’s development agenda.

In conclusion, Yılmaz emphasized the importance of continued collaboration and mutual support between Turkey and Kyrgyzstan in various fields, including trade, investment, and development projects. He called on business leaders to take decisive steps to further strengthen economic ties between the two countries.

 

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