| Date: | Monday, February 28, 2022 |
The Turkish economy is one of the most promising economies among developing countries, as it is a founding member of .
Turkey's economy grows by 11 percent
The Turkish economy is one of the most promising economies among developing countries, as it is a founding member of the Organization for Economic Cooperation and Development (OECD) and one of the major economies of the Group of Twenty, which makes it one of the most important and largest economies in the world.
It is reported that Turkey has the nineteenth place in the nominal GDP in the world, and the thirteenth in the GDP according to purchasing power parity.
The Turkish economy will grow by 11 percent during 2021
During the past year 2021, the Turkish economy achieved a growth rate of 11 percent compared to the previous year 2020.
This came in data published by the Turkish Statistics Authority, on Monday, in which it explained that the Turkish economy achieved a growth of 9.1 percent during the last quarter of last year.
The data indicated that the gross domestic product in 2021 increased by 42.8 percent compared to 2020, to reach 7 trillion and 209 billion and 40 million Turkish liras.
Looking at the gross domestic product, the average per capita income in Turkey during the past year was 9,539 dollars.
The most important factors of the development of the Turkish economy:
1- Political stability:
The current Turkish government, which came to power through the ballot box, has implemented major development projects in the country, in addition to general reforms and the release of freedoms in accordance with international standards. The government was able to win the confidence of the Turkish street, thus achieving political stability in the country.
2- Economic reforms:
The Turkish government worked to pay off the public and foreign debts of the Turkish state and followed successful financial systems, as the country's financial system was restructured by developing the work of public banks in Turkey. The development model was also followed in the field of exports, low inflation in the markets, the establishment of hospitals, universities and government schools, in addition to the privatization of state laboratories and electric power distribution systems, which resulted in the introduction of 70 billion dollars into the state treasury.
3- Foreign Economic Policy:
The Turkish state was interested in pursuing an active foreign policy in the economic field, as Turkey returned to the Arab region, Central Asia, the South Caucasus and other gateways to the economy and with force.
It set up regional relations and helped Turkish businessmen to increase economic cooperation with other countries by activating partnerships and deals and promoting the introduction of investments and capital into Turkey.
Attracting foreign investments has played a major role in increasing economic growth rates in Turkey. The Turkish government has been interested in stimulating investment in the real estate market in Turkey and has enacted special laws for foreign ownership and provided all the necessary facilities for investors.
The real estate market in Istanbul witnessed a great demand by Arab and foreign investors looking for homes for sale in European Istanbul, as Istanbul, Turkey, is the first destination for real estate investment in Turkey. This is due to its importance as the Turkish economic capital and incubator for major construction and infrastructure projects in the country.
Related Blogs:
The latest news of the Turkish economy
The flow of investments from Europe to Turkey
Investment conditions in Turkey
Real estate investment opportunities in Turkey
The importance of investing in Turkey
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