Turkey’s risk premium is improving, fueled by a revival in leading growth indicators such as rising manufacturing orders, capacity utilization rate, and economic confidence index, while interest rates are falling and inflation is below the target, according to the country’s industry and technology minister.
Turkey’s calendar-adjusted industrial production soared 5.1% in November 2019 compared to the same month of the previous year, according to official data released on Tuesday.
“The positive trend in industrial production, which started last September, is continuing with added strength,” Mustafa Varank told an energy summit held in the capital Ankara on Tuesday.
He said this year Turkey will have achieved much stronger growth, with investments lying at the heart of this.
“We will enter 2023 as a country that has a say in industry and technology by spreading revitalized growth to the medium and long term,” he added.
Separately, Treasury and Finance Minister Berat Albayrak said on Twitter that Turkey is progressing step by step to the desired acceleration in industrial production.
“Our priority will be value-added production based on employment and exports. In 2020, we will carry these figures even farther,” he wrote.