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Turkish Economy Going From Strength To Strength

News Posted On: 27 December 2010

Turkey’s economy has flourished in 2010 and Mustafa Boydak believes that next year will be a successful year as well. Boydak, who is Chairman of Kayseri Chamber of Industry, spoke during the KAYSO assembly meeting on Saturday. Concerning possible impacts that crisis-hit nations have had, he stated that the central bank and finance and economy ministries should feel safe that the impact on Turkey will not be significant.

Turkey’s economy grew about 7 percent this year, which is significantly better than 2009 which saw a 5 percent decrease. Sustainable and stable growth is exactly what Turkey needed and good economy management pulled it through. Boydak stated that Turkey’s past economy mismanagement since the 2001 crisis has played a large role for such a decrease, but has since reformed various regulations, laws and watchdog groups to assist with the economic crisis. Because of such changes, the business world of Turkey has overcome some difficult economic times and anticipates further growth and stability.

A big boost came from the housing projects of the Housing Development Administration of Turkey, as more than one million people bought houses, which boosted Turkish construction companies as well as the economy.

During the Directors of the Economy 2010 meeting, Hisarcikioglu stated that Turkey is shining bright again and it is one of the 16 countries around the world that has made it through pre-crisis economic levels. He added that he would like to see Turkey come in within the top ten biggest economies by the year 2023.

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