A written statement was made after the last Economy Coordination Board meeting of this year, held in Şanlıurfa under the chairmanship of Vice President Cevdet Yılmaz.
In the statement, it was stated that a year in which geopolitical tensions in the global economy continued, protectionist tendencies increased and uncertainties continued, was emphasized that in this global conjuncture, Turkey carried out the economic program, which it started to implement in 2023, in effective coordination.
Current account deficit decreased significantly
In the statement, it was stated that thanks to the program, inflation started to decline, the economy was rebalanced, and the current account deficit decreased significantly:
“While the unemployment rate remained in single digits, employment reached historical high levels. International reserves rose to a record level. Country risk premium decreased, foreign borrowing costs decreased, access of banks and the real sector to external financing with more favorable conditions increased. Macro financial stability was strengthened. Confidence in the Turkish lira was strengthened.
While the earthquake wounds were healing, the budget deficit decreased and fiscal discipline strengthened. Our country’s exit from the gray list has been completed. Our country became the only country that received a credit rating increase of 2 levels from the 3 major credit rating agencies.
Structural reforms are being implemented
Thanks to all these achievements, we have created a solid basis for establishing price stability and accelerating structural transformation, which are the two important goals of our program. “We continue to implement structural reforms within a timetable.”
In the statement, it was pointed out that regional development is an indispensable element to further increase Turkey’s competitiveness and growth potential. “With the development policies we will implement for this purpose, we aim to reduce regional development differences, spread social welfare more evenly throughout the country and enable the regions to use their potential at the highest level.” statements were included.
Investments will be encouraged in labor-intensive sectors
In the statement, it was underlined that the Southeastern Anatolia Project (GAP) is an important regional program that contributes to the Turkish economy with the prosperity it creates, and with the new GAP Action Plan, agricultural irrigation investments in the region will be completed, smart agricultural practices will be implemented, rural economies will be diversified, tourism-oriented growth will be achieved, labor force will be ensured, It was stated that investments in intensive sectors will be encouraged.
In transportation, industry, tourism and logistics sectors…
In the statement, it was emphasized that regional development programs, especially in the transportation, industry, tourism and logistics sectors, will continue to be implemented with a holistic perspective and with the cooperation of relevant institutions in the coming period, and the following was noted:
“In this regard, the main issues discussed at today’s EKK meeting are as follows;
Within the framework of the Regional Development National Strategy (2024-2028), policies that will increase the global competitiveness of our regions, minimize interregional development differences and recover after the earthquake have been discussed.
“Measures that will ensure agriculture is the driving force were evaluated”
Within the scope of the Local Development Move Incentive Program, project issues that will make significant contributions to regional development and increase investment, production and employment have been evaluated and additional steps that can be taken in this context have been consulted.
The current situation in irrigation investments in the GAP region has been reviewed, and measures that will popularize sustainable and smart agricultural practices in the coming period and ensure that agriculture is the driving force in the development of the region have been evaluated.
The importance of increasing food production in the fight against inflation was emphasized
The importance of increasing food production within the scope of strengthening social welfare and fighting inflation was emphasized, and the steps to be taken in this field, especially public investment priorities, were discussed. “The possible effects of the latest developments in Syria on our foreign trade were evaluated and the policies to be followed in the new period were discussed.”
Source: www.dunya.com
