We will rise again, Turkey will continue to grow in the last quarter and 2017

Mehmet Büyükekşi, Chairman of Turkish Exporters' Assembly (TİM) commented on the 2016 Q3 GDP data.

Büyükekşi told, “Turkey will continue to grow in the last quarter and 2017” stating that the 1.8 percent contraction is only temporary, and it is not too big a drop considering what the country went through in the 3rd quarter; a coup attempt, multiple terrorist attacks and credit rating cuts.

The Chairman also said “We are expecting 2.5-3 percent GDP growth in the last quarter. We also expect net foreign trade to make a positive impact on growth in 2017. Turkey will perform better than most of the world in 2017, we will rise again.”

“The crisis with Russia and the terrorist attacks affected tourism severely, making it the worst year in Turkey's history. Foreign visitors dropped by 37% in July, 38% in August and 33% in September. Due to the long holidays in this quarter industrial production also suffered. However, we remain hopeful, we expect a positive growth rate in the last quarter.”

Highlighting their ambition to make 2017 a leaping point for exports and economic growth, Büyükekşi told; “There are important steps taken by the government. These will affect investments, exports and consumption positively. We believe Turkey will grow faster next year.”

Published on Tuesday, December 13, 2016
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