(MENAFN- AzerNews) After the Turkish Statistical Institute (TUIK) announced the
gross domestic product (GDP) results for the third quarter of this
year (July-September period), business world representatives
evaluated the data.
Stating that it is important for the industry, which made a
negative contribution to growth in the previous quarter, to turn
positive again, Avdagiç said: "Although the highest contribution to
growth came from consumption, we observed a significant slowdown in
this contribution. We find this valuable as it gives signs of
balancing in the economy, in line with the targets of the new
program. On the other hand, the contribution of net foreign demand
to growth decreased in the third quarter as well, due to the effect
of the slowdown in the main export markets. However, we expect the
negative contribution of net foreign demand to growth to decrease
in the coming periods due to the slowdown in imports in recent
months. We do not view growth as a data reduced to just numbers. In
addition to growth, we attach great importance to social welfare.
Therefore, while fighting inflation on the one hand, we also expect
production, employment and we believe that policies prioritizing
exports should be carried out in balance."
Mahmut Asmalı, Chairman of the Independent Industrialists' and
Businessmen's Association (MÜSİAD), stated that the Turkish
economy, which grew by 4 percent and 3.9 percent respectively in
the first two quarters of the year, gained momentum in the third
quarter and grew by 5.9 percent.
"Thus, while the positive growth trend in our national economy
continued for the 13th consecutive quarter, Turkiye had the highest
growth performance among the G20 countries in this period," he
said.
Emphasizing that the Turkish economy continues its steady march
on the positive growth path with firm steps, Asmalı commented that
the increase in the growth rate of the Turkish economy as
"admirable" in such a period when Turkiye, along with the leading
economies, is facing the inflation problem and is in the process of
monetary tightening.
Asmalı described the fact that domestic demand increased growth
by 8.4 points in the third quarter of the year, as well as a
3.4-point contribution from investments, as a pleasing development
for the real sector and made the following evaluations:
"The contribution of net foreign demand to growth,
unfortunately, was 2.6 points in a negative direction, as imports
increased faster than exports in the third quarter. The increase in
all activities that make up GDP was a very important development in
terms of showing that growth spread to all sectors in the third
quarter. The expansion of the services sector by 4.3 percent, the
industrial sector by 5.7 percent, the agricultural sector by 0.3
percent and the construction sector by 8.1 percent on an annual
basis during the period indicated an overall growth. We stated that
it will be one of the best-growing countries and that it will
achieve a growth performance above the world average. The figures
announced today confirm how justified our confidence in our
national economy is. The growth performance of 5.9 percent is
expected to reach the end of the year in 2024. It will also be a
great source of motivation for us. On this occasion, as
representatives of the real sector, we reiterate our belief that
the production, export, and employment-oriented growth process of
the Turkish economy will continue and that we believe in the new
era that we call the Turkish Century."
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