Economic Message to Turkish-American Business Community from President Erdoğan in New York
Meeting with business people at the Turkish House in New York, President Erdoğan reiterated the $100 billion trade target and shared recent developments in the economic program.
President Recep Tayyip Erdoğan came together with representatives of the Turkish-American business community at the Turkish House in New York, stating that they will reach the $100 billion trade volume target in a short time and evaluating the economic program and inflation expectations.
Turkish House Meeting and Trade Targets
President Recep Tayyip Erdoğan met with representatives of the Turkish-American business community at the Turkish House in New York, where he is visiting for the 81st General Assembly of the United Nations.
Stating that they evaluated many sectors from industry to finance, energy to transportation, Erdoğan expressed his belief that they will reach the $100 billion trade volume target with the US in a short time.
Economic Program and Four Core Components
He conveyed that the economic program they implement consists of four core components: price stability, fiscal discipline, sustainable external balance, and structural transformation.
Emphasizing that they have made visible progress in all of these principles despite the impacts of wars, Erdoğan stated that the program is being pursued with determination.
Inflation and Budget Data
Stating that core goods inflation has dropped to the lowest level of 2020 and rental inflation to the lowest of the last four years, the President said they project to complete the year with an inflation rate around 28 percent.
He noted that they are in a good position on the side of fiscal discipline and that the budget deficit is projected to close at a level of 3.1 percent relative to national income.
Structural Transformation and Investment Areas
Expressing that they have placed structural transformation at the center of the program, Erdoğan reminded that they are assertive in green transformation and will host COP31 in Antalya.
He stated that strong incentives are provided to investors with the industrial zone established in Ankara in the fields of artificial intelligence, digital transformation, and healthcare.