Mehmet Şimşek, Minister of Treasury and Finance, evaluated the GDP data announced by TÜİK.
Şimşek stated that while the Turkish economy grew by 3.8 percent in real terms in the second quarter of 2023 compared to the same period of the previous year, the seasonally adjusted GDP growth was 3.5 percent compared to the previous quarter.
Emphasizing that the economy continued its strong growth performance in the second quarter of the year, when the economic effects of the earthquake were tried to be compensated despite the tight global financial conditions and global trade that contracted by 1.8 percent compared to the same period of the previous year, Şimşek said, “While real exports continue to decline due to the weakening in global activity, strong domestic demand continues. Accordingly, imports continued to increase. Thus, net foreign demand limited growth. On the other hand, investment expenditures, which are important in terms of increasing the productive capacity of the economy, increased by 5.1 percent.” said.
“We aim to reduce the vulnerability of our economy to external shocks”
Expressing that their goal is to have strong growth, as well as to be balanced, sustainable and inclusive, Şimşek said, “We continue to take and implement measures to re-establish the balance of domestic and foreign demand. We prioritize the transfer of resources to investment, employment, production and exports rather than consumption. As a result of these measures, we aim to reduce the vulnerability of our economy to external shocks. used the phrases.
Noting that predictability will be increased by ensuring trust through transparent, consistent and internationally normed policies, Şimşek emphasized that predictability is critical for the investment and employment increase required for sustainable growth.
“We will continue to take the necessary steps”
Şimşek said, “We started to see the positive effects of the policies we implemented on macro financial stability. We will continue to take the necessary steps to ensure that these effects are permanent and to ensure stability. It is our priority to share the welfare increase to be achieved with balanced and sustainable growth by all segments of the society.” said.
