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Turkey has high expectations for 2022 national economy

6 January 2022 16:13 (UTC+04:00)
Turkey has high expectations for 2022 national economy

By Economic Service

Turkey’s Treasury and Finance Minister Nureddin Nebati has said that 2022 will be the year in which the country’s economic gains will be the highest, Yeni Shafak has reported.

Nebati made the remarks at the Independent Industrialists' and Businessmen's Association (MUSIAD) Extended Presidents meeting, the report added.

"This year will be the year in which historical records are broken, the new economic model is applicable, predictable, and Turkey's gains will be the highest," the minister stressed.

Addressing the meeting, Nebati underlined that the government took new measures with the Turkish Economy Model and that work on the relevant legal regulations started in the parliament recently.

"We will continue on our way by carrying out the fiscal and monetary policies together in accordance with the realities and internal dynamics of the country, taking all kinds of measures, especially without compromising the budget discipline. This will be a time when everyone wins,” he said.

Explaining that their primary goal in the coming period is to issue income-indexed securities, Nebati added that a priority sector lending program will be made.

“Project banking will be one of the most important instruments of this country from now on. Then we will give the same priority to the energy, defence industry, aviation, pharmaceutical, agriculture, livestock and tourism sectors," he said.

The minister stressed that this period will be the one in which everyone wins, sees ahead and can make their own calculations.

“We have very important works to support our production-oriented, manufacturing and export-oriented companies with the new instruments we will bring now. Those who want to develop their exports, who want to produce, will come to us,” Nebati underlined.

As long as the companies produce, increase their export and employment capacity the government will fully support them, he added.

The minister also noted that the government will prevent individual investors from being harmed by perception operations again.

“The foam on the currency is gone. The exchange rate is no longer debatable. Our citizens give very good support to currency-protected deposits, protect themselves and increase their earnings. Exchange rates have stabilized under free-market conditions; we are now removing them from our agenda. A currency-protected Turkish lira deposit account is updated every day. As of yesterday, we reached a volume of 91.5 billion liras in the exchange-protected Turkish lira deposit account,” Nebati stressed.

He pointed out that inflation, which was discussed in the Price Stability Committee, is a huge problem around the globe today.

“We will continue our fight against inflation in the strongest and most determined way," Neabti stressed.

He added that as the economic management, no step will be taken without the knowledge of market stakeholders.

MUSIAD President Mahmut Asmali said that the New Economy Model has entered a period in which it instills confidence in manufacturers, industrialists and investors.

"We set sail for a year in which the capacity utilization of our investors, producers and industrialists will increase, domestic sales will increase, the export potential will strengthen, new investments will gain momentum, employment opportunities will come to the fore, and innovative opportunities will be evaluated. We will continue to work with all our strength," Asmali emphasized.


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