Finance Minister Mehmet Simsek sent a video message to the Palandöken Economy Forum in a hotel in Erzurum.
The forum in the high uncertainty triggered by trade wars said that the global economy has structural problems in the long term.
Şimşek explained that the world is exposed to problems such as aging population, artificial intelligence and climate crisis as well as protectionism, and emphasized that global growth is a downward risk of appearance.
With strong reasons that feed the optimism of the Turkish economy in this economy, said Şimşek: “Thanks to the stability and reform program that we have implemented since May 2023, we have reduced our external fragility and reinforced our resistance to shocks.
Şimşek said that Protectionism is one of the greatest threats to global trade and that protectionism has been on the rise since the global financial crisis in 2008.
When Şimşek found that the trade restrictions increased compared to the pre -crises around the 11 -fold, said that the competition between the United States and China is largely behind protectionist politics.
Şimşek continued his words as follows:
“Turkey has a more resistant position against the increasing protectionist guidelines compared to similar countries. There are two main reasons for this. First of all, our dependence on export is relatively low, so that the main engine of our economy is about 20 percent. The proportion of goods exports in national income is around 20 percent.
“We strengthen the advantages with great infrastructure and logistics projects with great violence.”
Şimşek explained that Torkiye is exported in a strong position in the services and said that it is one of the leading countries in its region in areas such as tourism, contract and education overseas.
Şimşek emphasized that Türkiye is the main production base of the region in the production industry and said: “We strengthen these advantages with large infrastructure and logistics projects with a large one.
With the view that increasing borrowing is another structural risk, said Şimşek that Türkiye's total performance is only 93 percent of its national income and is 245 percent in similar developing countries.
Şimşek explained that there is no debt base in front of Türkiye and said: “If our debt is low, the strong foundations of Türkiye will attract investors again.” He said.
Şimşek explained that global investors are currently careful and avoid risks.
“However, we believe that this is a temporary trend for Türkiye. Over time, investors will concentrate on countries with strong macroeconomic basics and stories. Türkiye is one of the countries that will be positive at that time.”
“We increase our investments in the field of digitization”
Şimşek said that the demographic transformation and the older population rate at a global level were an important development and that Turkey has at least 15 to 20 years of opportunities in front of Torkiye and that the population of working age is increasing.
With the awareness of the employment of women, 36 percent.
Şimşek emphasized that developments in productive artificial intelligence and robot technologies will seriously influence the global economy, and pointed out that the IMF is above the developing country over the artificial intelligence index developed last year.
Şimşek explained that the studies continue to conclude the difference with the industrialized countries and said: “We see artificial intelligence and advanced technologies as a primary area. We increase our investments in digitization. Our greatest advantage is our qualified personnel department.” he said.
Şimşek said that you have strengthened the infrastructure to best evaluate this potential. found in the evaluation.
“There is a strong improvement in external balance”
Şimşek emphasized that climate change was one of the global structural problems and explained that Türkiye is not freed from this threat.
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“Turkey has very important advantages in the global economy in which we are in.
Şimşek emphasized that the current account deficit, which was over 55 billion US dollars in May 2023, decreased to $ 12.8 billion from February.
With the exception of gold imports, Torkiye gives the current current surplus with moderate growth, Şimşek that you have accelerated the structural transformation to make it permanently.
Şimşek explained that the decline in oil prices was for Torkiye and will contribute to the decline in the current account deficit.
A macroeconomic stability and reform program was used over a period of almost 1 million new employment.
“It is possible for global uncertainties to slow down the internal and external demands to have temporary effects on economic activity. However, we continue to build solid foundations for sustainable and integrative growth that go beyond short -term fluctuations. Therefore we have strong reasons that we contain strong in our country. Every global crisis.
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