Treasury and Finance Minister Nureddin Nebati spoke at the opening of the Uludağ Economy Summit held at NG Enjoy Sapanca Hotel with the theme of “One World, Common Future” with the main sponsorship of Hayat Holding, by Capital, Ekonomist and StartUp magazines.
Nebati said that he is very happy to be at the Uludağ Economy Summit, which has turned into a brand by bringing together valuable names from the economy, politics, business world and academia for more than 10 years.
Stating that they often come together with the business world and academics under different topics, Nebati stated that they evaluated all requests and suggestions together.
Nebati pointed out that Turkey has a state mind that can turn all regional and global crises into opportunities and has a high strategic maneuverability in every field, and said, “In this process, where each country puts different policy sets into action according to its own economic conditions, we, investment, employment, We have put into use our production and export oriented Turkish Economy Model, which shows how strong this model is in our economy, which grew by 5.6 percent even in 2022, when the crisis peaked. succeeded.” he said.
“Leading indicators also point to continued growth”
Minister Nebati pointed out that the Consumer Confidence Index rose to 87.5, to pre-epidemic levels, and made the following assessment:
“Despite the earthquake disaster that directly affected 11 provinces and more than 14 million people, leading indicators of economic activity show that growth continues in 2023. The epidemic has exhausted the world. The person in Sapanca, who sneezed in Wuhan, became sick. The world is like a body. The global economy is very When we were seriously stressed and tired, Turkey positively separated. When we said, ‘We will separate positively, we will continue to grow,’ those who did not take good care of life said, ‘No way.’ The Ukraine War also captured the whole world, I said, ‘We will separate,’ in this period of historical peaks in all commodity prices. Because we trust Turkey, we know its strength and advantageous points.”
Stating that the leading indicators for the second quarter of this year show that the growth continues, Nebati said that despite the disaster of the century, great loss of life and material has been experienced in Turkey, and that growth continues despite this.
Nebati stated that the steps they took and the policies they implemented after the February 6 earthquake from the first quarter, the successful performance of the Turkish Economy Model, the staunch stance of President Recep Tayyip Erdoğan, and the fact that the decisions were made on time, even before the demand in the market, ensured this success. he did.
Reiterating that the Consumer Confidence Index rose above pre-epidemic levels with 87.5 percent and pointing out that elections were held in such a period, Nebati said that in the post-epidemic period, which passed with global shocks, business people took all necessary precautions to make the best use of new opportunities. stressed that they have provided and will continue to provide all support.
Stating that they have made significant progress in the scope of gender equality, which contributes to business life and welfare, which is one of the agenda items of this summit, Nebati said, “As the government, thanks to the measures we have taken and the incentive mechanisms we have developed, the female employment rate in our country has reached an all-time high of 30.4 percent. We will increasingly continue the comprehensive support we provide to women’s employment, our women entrepreneurs and women’s cooperatives in the future.” said.
“We started to reduce inflation as we predicted”
Nebati stated that the demand-side inflation problem, which emerged all over the world with the onset of the global epidemic, turned into a supply-side structure due to the high increases in commodity prices, especially energy and food, as of 2022.
Emphasizing that they have started to reduce inflation as they foresee with the measures they have taken against the increasing inflation and cost of living in the world and with the contribution of global normalization, Nebati said, “We will ensure that the inflation gradually falls to single-digit levels permanently. Hopefully, when the inflation figures for April are announced, it has reached a level well below 50 percent. We will be.” he said.
“I’m a good Togg user”
Stating that the bank failures in the USA and Europe due to tight monetary policies pose a threat to the global economy, Nebati stated that the Turkish banking sector continues to display a solid stance with its asset quality, strong capital buffers and continuous profitability. We are also aware that there are factors that significantly increase the competitiveness of our country. For this reason, we take firm steps towards increasing R&D investments and support strategic sectors and technology-intensive investments with our selective loan policy.” said.
Recalling that with this understanding, they realized the nation’s 60-year dream and brought the domestic car Togg to the roads, he said:
“I’ve been actively using Togg since the day it came out. I’m a good Togg user in Istanbul and in my constituency, Mersin. I’m 58 years old. He passed by saying, ‘We can’t do this job, we can’t do it.’ “There is nothing more enjoyable than seeing the understanding that ‘Turkey will do it if it does.’ A total of 28 thousand vehicles will be produced by the end of this year. We are advancing with the goal of producing 1 million vehicles by 2030, and we are shaping the strong future of our country.”
“We will continue to move forward by taking the right steps at the right time”
Reminding that they started the flow of nuclear fuel at the Akkuyu Nuclear Power Plant yesterday, which will reinforce the diversification strategy in energy and reduce foreign dependency, Nebati said, “We realized a 60-year-old dream yesterday. It turns out that they were waiting for someone, they were waiting for Mr. Recep Tayyip Erdoğan. Revolutionists say ‘revolution is revolution’. They shout slogans, but they do not hold accountable those who stopped the revolution.” used the phrases.
Nebati stated that they added a new one to their giant investments by connecting the Black Sea natural gas, which was discovered with domestic and national resources, to the system.
While referring to the targets for the next period, Minister Nebati said, “We aim to ensure a healthy development of the financial sector as a whole with the reform and policy steps we will implement in the fields of banking, participation finance, capital markets and fintech in the coming period.” said.
Recalling that they opened the Istanbul Finance Center, which will unite different players of the financial sector under one roof, Nebati said:
“We present the topic that a country can talk about for years with only one of them in a month. This is Ahmet, Mehmet, not just an ideology, not just a party. These are all for this country, the nation. Of course, we will brag about those who do not believe. Despite those who do not believe, this century will be the ‘Century of Turkey.’ Istanbul Financial Center will take its place among the world’s leading financial centers as a regional center in the short term and a global center in the medium term. The Istanbul Financial Center will be among the top 10 financial centers of the world in 10 years. We will do all the work necessary to replace it.”
Nebati pointed out that a critical threshold has been reached in the modernization process that marked the last two centuries of social history, and said that they are taking firm steps towards transforming Turkey into a global center of finance, production, technology, logistics and tourism.
Emphasizing that they aim to reach a national income of 1.5 trillion dollars and a per capita income of 16 thousand dollars by the end of 2028, with an annual average growth of 5.5 percent in the 2024-2028 period, as they stated in the election program, Nebati said, “It will create 6 million new jobs in 5 years. We will continue to attach special importance to the employment of women and youth. In this direction, we will build our strong future together in the second century of our Republic, namely the ‘Century of Turkey’, and we will continue to move forward by taking the right steps at the right time.” said.