Turkish President Recep Tayyip Erdoğan called on foreign investors to make long-term investments in Turkey in a televised interview Tuesday.
INVESTMENT IN TURKEY
“It is time for foreign investors to make long-term investments [in Turkey]. Those who have made long-term investments in Turkey have always won, and they will keep winning,” he told Turkish state broadcaster TRT.
Erdoğan emphasized that Turkey is lowering its current account deficit every month, and hopefully it will post a current account surplus next year.
“We are no longer posting a current account deficit and financing this deficit with external debt, but we are moving towards an economy that gains foreign currency and posting a current account surplus,” he said.
EXPECTATIONS OF TURKISH ECONOMY’S GROWTH BY THE END OF 2021
Erdoğan reiterated his forecast that he expects the Turkish economy to expand by 10% at least by the end of this year and said economic growth can surpass that level.
He added that Turkey is lowering interest rates at the moment and will hopefully see a decline in inflation as well.
“We will never let anyone make economic growth unstable and we will get out of this spiral,” he noted.