Erdoğan: The Turkish Economy is Navigating from Turbulent Waters to Calm Seas

Foreks - President Recep Tayyip Erdoğan, during his speech at the International Business Forum Congress held at the TÜYAP Fair Center, stated, "We expect our national income to rise to 1 trillion 331 billion dollars by the end of 2024 and our per capita income to reach 15 thousand 551 dollars. We aim to reduce the budget deficit to 3.1% in 2025 and provide strong support for disinflation through fiscal policy."

The World Muslim Business Community Fair and the International Business Forum Congress took place in Istanbul with the participation of President Erdoğan. In his speech at the event, which saw the attendance of numerous guests, Erdoğan delivered important messages regarding current issues.

Stating that the forum brought together business people from 88 countries, President Erdoğan mentioned that the goal is to achieve a trade cooperation volume of 1 billion dollars, saying, "I see intense interest in the fair, which started on Tuesday and will conclude today, from both within our country and abroad. Through this fair, business people, industrialists, and investors from 88 countries have been brought together. We place great importance on the participation of our firms in textiles, machinery, construction, building materials, food agriculture, and defense industries in this fair. This proud picture is a significant reference that reflects both the capacity and diversity of the Turkish economy. In the B2B meetings that brought together over 300 participants from 24 sectors, the goal is indeed to achieve a trade cooperation volume of 1 billion dollars. I believe that with the contacts made since Wednesday, we will surpass this figure as well.”

"We are a country that has been subject to migration movements throughout history" Noting that the participants, the products exhibited at the fair, and the impacts were impressive, President Erdoğan said, "The fact that the International Business Forum is organized under the theme of migration, with its humanitarian and economic dimensions, is also commendable. I hope the discussions held at the forum will yield beneficial results. Here, I want to emphasize one point: The issue of migration is one of the most sensitive issues of our time, not only for countries like ours that are transit routes but for the entire world, regardless of whether they are developed or developing."

Erdoğan stated that Turkey has historically faced migration movements, saying, "For Turkey, migration is a concept much older compared to many countries in the world. Due to our geographical position and our human and cultural ties, we have been subjected to migration movements throughout history. As the Ottoman Empire lost territory, we witnessed a surge in migration from Crimea, the Caucasus, and the Balkans starting in the 19th century. Over the past two centuries, we have embraced our compatriots who faced hardships and were exiled with open arms. Together with Muslims, we opened our doors to Jews and Christians as well. We have also been the ones to support our neighbors fleeing the civil war in Syria since 2011, just like our Kurdish brothers who suffered in Northern Iraq during the First Gulf War,” he expressed.

“We are hosting around 3.5 million displaced individuals” Stating that they are hosting around 3.5 million displaced individuals, President Erdoğan remarked, "Another aspect of the issue is this: Starting from the 1960s, hundreds of thousands of our people bid farewell at Istanbul Sirkeci train station, accompanied by drums and zurnas, boarding trains to seek their fortunes abroad. They went to Germany, what they called their 'bitter homeland,' and later to Belgium, Switzerland, and other European countries to earn a living. Today, we are hosting around 3.5 million displaced individuals, mostly from Syria. Moreover, today, over 6 million of our brothers and sisters continue their lives in various European countries, primarily in Germany, contributing significantly to the economies of the countries they live in. I mention all this to emphasize that we are a nation familiar with the phenomena of migration and being migrants. We have received migration from various sources for many years, and we have also sent our citizens abroad as migrants. This experience allows us to evaluate the migration issue more healthily, especially as it concerns various sections of our society, including our business circles," he explained.

Emphasizing that Turkey will continue its fight against illegal migration without compromise, Erdoğan stated, "Some countries may approach the issue of migrants solely from a self-interest perspective. Others may view this as an ethnic and cultural threat. Some might analyze this matter only through the lens of security. But we, as Turkey, must approach the phenomenon of migration in a multidimensional way, focusing particularly on humanitarian values. We must read this issue, which has been the subject of countless meetings, research, and symposiums, with a holistic understanding and develop correct, sustainable, and long-term policies accordingly. It is not correct to immediately frame the issue under the context of combating irregular migration whenever migration is brought up. Like every state facing the pressure of irregular migration, Turkey will undoubtedly continue its struggle against illegal migration flows without compromising. We will protect the security of our borders as our honor, and we will strengthen it with additional measures. Likewise, we will not take a step back from our determined policies aimed at eliminating the informal economy."

"Turkey's economy has been growing continuously for 17 quarters" President Erdoğan indicated that they expect the national income to rise to 15,551 dollars, stating, "We anticipate our national income to reach 1 trillion 331 billion dollars by the end of 2024 and our per capita income to rise to 15,551 dollars. As of September, the number of employed individuals increased by 1 million 129 thousand year-on-year, reaching 32.8 million. The total expenditure for the reconstruction and revitalization of the earthquake region has approached 72 billion dollars. Despite the earthquake's impact last year, we aimed to keep the budget deficit at 5.2% of the national income and target a reduction to 4.9% this year. We aim to decrease the budget deficit to 3.1% in 2025 and provide strong support for disinflation through fiscal policy. The Turkish economy has been growing continuously for 17 quarters. The prosperity, peace, and well-being of the people are our top priorities. We have never compromised on this and will not do so in the future. We will not hesitate for a moment to break the hands reaching out for the bread of the nation in order to earn more money and make a profit. The Turkish economy is now steering from stormy waters toward calmer seas," he stated.