The Turkish economy is one of the most promising economies among developing countries, as it is considered

The growth of the Turkish economy by 11 percent

Date:Monday, February 28, 2022

The Turkish economy is one of the most promising economies among developing countries, as it is considered

The growth of the Turkish economy 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 main 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 largest  nominal GDP in the world, and the thirteenth largest by purchasing power parity.

The Turkish economy will grow 11 percent in 2021

During the past year 2021, the Turkish economy achieved a growth of 11 percent compared to the previous year 2020.

This came in data published by the Turkish Statistics Authority, on Monday, in which it indicated that the Turkish economy achieved, during the last quarter of last year, a growth of 9.1 percent.

The data indicated that the gross domestic product in 2021 increased by 42.8 percent compared to 2020, to reach 7 trillion, 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 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.


Related blogs:

The latest news of the Turkish economy 

Turkey leads the G20 in economic growth

International institutions adjust their expectations "positively" for the growth of the Turkish economy

An increase in house prices in Istanbul by 95%

 The flow of investments from Europe to Turkey

Real estate investment opportunities in Turkey 


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