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The strength of Turkish economy

Economy

The strength of Turkish economy

The strength of Turkish economy

08/10/2020  /
  • 545

It is a fact that fluctuations in exchange rates are not in favor of the Turkish Lira. Nevertheless, the economy stands stronger than it was in the early 21th century, as evidenced by the public debt which has decreased by two-thirds of the previous amount. In addition, the banking system is more robust, proven by banks, and the private sector is able to combat volatility. In 2020 export showed that the numbers rose significantly, as did the diversification of export destinations and goods. The GDP numbers are also encouraging, with the increase in GDP, purchasing power strengthened and sectoral developments taking place while new sectors are also emerging. In addition, Turkey's share in global merchandise exports has witnessed promising numbers