Turkey to maintain historic transformation in economy in 2022: Erdoğan

ANKARA

Turkey has started a historic transformation in the economy in 2021 based on growing the country by investment, employment, production and exports, President Recep Tayyip Erdoğan has said, vowing this trend will continue in 2022 with determination.

“We have started a historic transformation in the economy by launching a process of growth in our country on the basis of investment, employment, production, exporting and current account surplus. We determinedly maintain this economic transformation, for which we have laid the groundwork with our projects and services across Turkey over the past 19 years,” Erdoğan said in his New Year message on Dec. 31.

Hoping that 2022 will be a more beautiful, more peaceful, more prosperous and a better year both for humanity and the Turkish nation, Erdoğan wished auspicious developments for the entire humanity.

Erdoğan recalled that just like 2020, 2021 was also overshadowed by the coronavirus pandemic and other troubles, such as disasters caused by climate change, tensions prompted by instabilities in various countries and bitter scenes brought about by perpetual migration waves. He also reminded that Turkey developed its own vaccine, Turkovac, in the fight against the pandemic.

“It became crystal clear in 2021 that the system of prosperity and security the developed countries established in the aftermath of the Second World War could no longer keep functioning in the face of the plight, misery, and the objection of the rest of the humanity,” he said.

Against this global outlook, Turkey has positively distinguished itself with its successful performance in the face of security and health-related crises as well as political and social challenges, the president noted.

New pains, troubles, costs

“No doubt new pains, troubles and costs have emerged in this process, too, as is the case with every historic transformation. However, we have already been prepared for such unexpected shocks because of the attacks the Turkish economy has long been coming under,” he said.

Turkey has put an end to the exchange rate fluctuations that have been incompatible with Turkey’s economic realities and growth, he stated, “Our goal is to make permanent the climate of stability and trust whereby our investors, manufacturers, businesses and citizens can see ahead and thus contribute the most to our economic thrust. We are determined to make sure that this climate of confidence and stability takes root despite all the malicious schemes hatched by some who have caused our citizens to lose significantly with the propaganda that the rise in exchange rates would not cease.”

Turkey will also uninterruptedly continue its fight against exorbitant price schemes prompted by the unbalanced rise in exchange rates as well as by the rise in global commodity prices, President Erdoğan said, adding “ We are determined to make sure that Turkey becomes one of the top 10 economies in the world and achieves its goals.”

Interest rates make rich richer, poor poorer

Erdoğan, in an address to the Businessmen Association of Anatolian Lions (ASKON), has reiterated his well-known stance against interest rates, saying, “Interest rates up, interest rates down. Please, let’s remove this from our book. Interest rates make the rich richer and the poor poorer. Let’s know this well and act accordingly.

He stated he believes that the exchange rates will get balanced starting from the beginning of next week as he observes that more companies and individuals will convert their deposits in foreign currencies into the Turkish Lira.

“We are doomed to fail if we don’t take our own money as a medium. Our money is the Turkish Lira and we will move with it,” he said.