Deputy PM Şimşek: On global scale, Turkey's growth rather good
by Daily Sabah
ISTANBULSep 15, 2016 - 12:00 am GMT+3
by Daily Sabah
Sep 15, 2016 12:00 am
Deputy Prime Minister Şimşek has said, "Considering the period we are going through, the weak growth in the world economy and the shrinkage in the foreign trade, Turkey's growth performance is quite fine."
Speaking to reporters following the Qurban Bayram (Feast of the Sacrifice) event organized by the Justice and Development Party's (AK Party) Gaziantep Provincial Office, Şimşek was asked his opinions about the decrease in external demand despite the increase in domestic demand.
Pointing to second quarter-oriented growth figures, Şimşek said Turkey is showing rapid growth internally, meaning that domestic demand indicates a rapid growth level of over 5 percent in terms of either private consumption or public investments; however, growth maintained a 3.1 percent level in comparison to expectations due to weak worldwide demand and the ongoing chaos in Turkey's surrounding areas. Noting that Turkey's economic growth was about 4 percent in the first quarter, Şimşek said, "Considering the period we are going through, the weak growth in the world economy and the shrinkage in the foreign trade, Turkey's growth performance is quite fine."
Suggesting that the third quarter might be slightly disrupted by the recent coup attempt, Şimşek stressed that by swiftly executing structural reforms and establishing strong trust, a higher growth rate can be managed.