The Turkish Vice President affirmed on Wednesday their dedication to the expansion of the country’s savings.
Speaking at the opening of the Türkiye Economy Council held in Ankara Cevdet Yılmaz stated, “We are progressing by enhancing our savings rates and augmenting our overall savings in both the public and private domains.”
Yılmaz said their goal is to enhance Türkiye’s investment landscape, foster a more conducive environment for sustained growth and boost the potential of the economy by gradually introducing monetary and fiscal policies as well as structural reform steps.
“Our primary objective is to enhance efficiency within a free-market and competitive setting,” he emphasized. “We are committed to creating comprehensive export support programs aimed at facilitating the export of high-tech-intensive products.”
Vice President Yılmaz has said previously that Türkiye should increase savings instead of decreasing investments.
The country is formulating a medium-term program based on three pillars: fiscal discipline, monetary policies, and structural reforms.
Yılmaz mentioned that the global economy has undergone tests due to various challenges, notably health crises, trade tensions, geopolitical risks, the Russia-Ukraine conflict, and natural disasters.
He highlighted that this challenging period has resulted in the disruption of supply and demand equilibrium on a global scale.
The Turkish Vice President also touched upon Türkiye’s employment figures, noting that total employment reached 31.7 million in June 2023, marking a rise of 265,000 people compared to the same month in the preceding year.
By Breaking News Turkey with AA