Turkey targets growth above medium-term program goals

Based on reports, the increase in the latest announced industrial production index and the increase in the consumer confidence index in the manufacturing industry indicate that Turkey will continue to enjoy a strong growth, despite all the adversities of last year.

Considering a performance of 5 percent growth in the first quarter, experts believe Turkey will most likely enjoy higher growth, together with the growth rates of the second and third quarters to be announced soon. Consequently, the country will have achieved a growth rate of 5 percent at the end of the year, a performance well above 4.4 percent inserted in medium-term growth plans.

Tüfenkci emphasized that the country continues its path by not leaving the economic discipline despite all kinds of negativity, indicating that the industrial growth and the positive growth of the export, import and foreign trade volume have been seen.

Turkey has managed to continue on its path by sticking to an economic discipline despite all kinds of negativity and succeeded to achieve positive growth in industrial production, exportation, importation as well as foreign trade volume.

Exports increased by 12.36 percent in first seven months of the year amounting to US$ 13 billion 287 million while imports increased by 15.30 percent to US$ 19 billion 164 million.

When we look at the total foreign trade volume, we see that it increased by 14.08 percent in the same period. Especially the recent increases in the industrial production index, the increases in the manufacturing industry’s Consumer Confidence Index seem to be indications Turkey will enjoy a strong growth for the rest of the year as well.