Turkey tops the G20 in economic growth

Turkey tops the G20 in economic growth

Turkey ranked first among the G-20 countries in economic growth during the third quarter of this year.

During the third quarter of this year, the Turkish economy achieved a growth of 7.4 percent, compared to the same period last year.

In the third quarter of last year, the Turkish economy achieved a growth of 6.3 percent.

During the first quarter of this year, the Turkish economy achieved a growth of 7.4 percent, while this percentage rose during the second quarter to 22 percent.

According to Anadolu Agency, the Turkish economy has achieved three times the average growth rate of the European Union, and has surpassed the most rapidly growing economies such as China and India.

The following is the arrangement of the G20 countries according to the growth rates recorded during the third quarter of 2021:

Countries Growth Rate (percent)
Turkey 7,4
Britain 6,6
Saudi Arabia 6,2
USA 4,9
China 4,9
Mexico 4,7
South Korea 4
Italy 3,8
Indonesia 3,7
France 3,3
Germany 2,6
Japan 1,3

New privileges for foreign entrepreneurs and investors

Turkish President Recep Tayyip Erdogan announced that entrepreneurs who create new job opportunities with their investments will be given a 7-point interest subsidy.

This came during a direct meeting of Erdogan with a group of media professionals on the state-run TRT channel

Addressing foreign investors, the Turkish president said, "It is time for long-term investments, and whoever makes such investments in Turkey always wins."

Erdogan stressed that his country's economy has strength and capabilities that enable it to confront economic threats.

He assured everyone that until the next elections, the lira would recover and inflation would decline as a result of the interest rate cut.

Noting that inflation has risen all over the world, President Erdoğan added, "When we look at the G20 countries, we find that Turkey's growth rate is 7.4%."

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