Treasury and Finance Minister Nureddin Nebati, in his evaluation of the first quarter growth figures of 2023 on his social media account, said;
The Turkish economy grew by 4.0 percent in real terms in the first quarter of 2023 compared to the same period of the previous year. Thus, our country managed to become the second country with the highest annual growth in the first quarter of the year among the EU and OECD countries whose data are disclosed.
We are going through a period in which tight global financial conditions continue and global trade is weak. In this period when we experienced the earthquake disaster of the century as well as the challenging external conjuncture, we never compromised on investment, production and employment. Thanks to the fiscal space we have achieved with fiscal discipline, we are making up for the wounds that the earthquake inflicted on our economy, day by day.
In addition, machinery and equipment investments, which are important for the increase in potential production and the continuation of sustainable growth, grew by 8.0 percent compared to the same quarter of the previous year and carried its uninterrupted increase to the 14th quarter.
It should be noted that not only high growth was achieved in the first quarter, but also the inclusiveness of growth was preserved. In the first quarter of 2023, employment increased by approximately 1.6 million people compared to the same period of the previous year, while the unemployment rate fell to 9.9 percent and fell to single digits.
On the other hand, the share of labor payments in Gross Value Added increased by 6.8 percentage points compared to the same period of the previous year and reached 38 percent, thanks to the steps we have taken towards low-income and fixed-income groups.
In the upcoming period, when the election uncertainty disappears, we will resolutely continue to improve the welfare of our citizens.