In recent years, Turkey has been able to achieve great achievements and qualitative leaps at the national level

The most important reasons for the success of the Turkish economy

Date:Thursday, January 12, 2023

In recent years, Turkey has been able to achieve great achievements and qualitative leaps at the national level

The most important reasons for the success of the Turkish economy:

In recent years, Turkey has been able to achieve great achievements and quantum leaps on the economic front. The Turkish government, after carrying out strong economic plans, was able to register its presence among the economies of the major European countries. The Turkish economy also entered the arena of competition among the economies of the ten most powerful countries in the world.

It is worth noting that the Turkish economy has witnessed prosperity both internally and externally, as Turkey has become a magnet for Arab and foreign investors with different investment orientations on the industrial, commercial and real estate investment levels. Arab investors focused their attention on the real estate market in Turkey and bought apartments in Istanbul for investment, and businessmen went to search for villas for sale in Istanbul with Bosphorus views.

For this great development witnessed by the Turkish economy, many factors played a key role in its stages of prosperity.

The most important factors for 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 and achieved 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 followed in the field of exports, low inflation in the markets, the establishment of hospitals, universities and public schools, in addition to the privatization of state laboratories and electric power distribution systems, which resulted in the introduction of $70 billion into the state treasury.

3- Foreign Economic Policy:   

The Turkish state has been interested in pursuing an active foreign policy in the economic field, as Turkey has returned to the Arab region, Central Asia, the South Caucasus and others from the gateway to the economy and with force.

And it has prepared 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. Bringing in foreign investments 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 legislated special laws for foreign ownership and provided all necessary facilities for investors. The real estate market in Istanbul has witnessed a great demand by Arab and foreign investors looking for homes for sale in European Istanbul, as Turkish Istanbul is the first destination for real estate investment in Turkey.. This is because of its importance as the Turkish economic capital and an incubator for major construction and infrastructure projects in the country.

Turkish-Qatari relations:

Within the framework of developing foreign relations, Turkey's economic relations with neighboring countries witnessed great growth. An example of this is the Turkish-Qatari economic relations, which have achieved widespread prosperity. During the past ten years, Turkey was able to attract $20 billion in Qatari investments, as Qatar ranks third among the countries investing in Turkey . to the agricultural sector. In light of the development in the growth of trade exchange between Turkey and Qatar, the Qatar Chamber of Commerce encouraged Qatari businessmen to invest in Turkey as a result of the great opportunities offered by Turkey and the favorable environment it enjoys. Turkish economic reports indicated that Qatar invested $22 billion in Turkey in 2018.

In 2016, the value of Qatari trade exchange between Qatar and Turkey amounted to $710 million, excluding petroleum products, and the value of projects implemented in Qatar by Turkish companies exceeded $15 billion. Turkey seeks to develop its relationship with Qatar in the field of energy, as Qatar ranks third in the world in gas exports. Within the framework of the two countries' policy to enhance economic cooperation and discover and develop investment opportunities, the Turkish-Qatari investment exhibition "Expo Turkey in Qatar" was launched in the Qatari capital, Doha, on April 19, 2018. This exhibition is the first of its kind in Qatar, and about 145 Turkish companies participated in it, displaying their products. in the Qatari market.

Related topics:

General information about Turkey

All you need to know about buying a property in Turkey

The most important airports in Turkey

Real estate appraisal law in Turkey



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