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Turkey to reach double-digit GDP growth rate by year-end, says president

Türkiye Materials 5 November 2021 03:15 (UTC +04:00)

Turkish President Recep Tayyip Erdogan said on Nov. 4 the country's economic growth rate could reach double digits by this year's end, considerably upping estimated figures by international organizations, Trend reports citing Hurriyet Daily News.

Although international organizations' estimates for the year-end growth rate of the Turkish economy is 9%, we think that we will reach double digits, Erdogan said in a video message at the Turkey 2023 Summit.


Recalling that the country's gross domestic product (GDP) growth rates were 7.2% and 21.7% in the first two quarters, he said the country will continue to prosper.

He went on to say that there is hope for winning the fight against the coronavirus and steps to normalize the health, transportation, education, and trade sectors were bearing fruit.

The global economy, which narrowed last year, is regaining foothold, production and export activities are increasing, and there is a strong recovery in tourism, he said.

"However, as humanity solves the issues regarding the health dimension of the pandemic, it faces different problems; global inflation, like the economic recession last year, is the most serious problem facing humanity today," Erdoğan added.

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