Treasury and Finance Minister Mehmet Simsek highlighted Türkiye’s accomplished and planned infrastructure investments, rapid growth of gross domestic product and progress in its ongoing disinflation program as key reasons to invest in the country.
Speaking on Tuesday at the Tourism Investment Forum in Istanbul, organized in collaboration with the Presidential Investment Office, the Ministry of Culture and Tourism, and the World Travel and Tourism Council, Simsek provided an overview of Türkiye’s economic achievements and outlined its future ambitions.
‘$280 billion invested in infrastructure, $200 billion more to come’
Simsek highlighted Türkiye’s significant progress in boosting its investment appeal, emphasizing the country’s competitive edge among developing nations. “Türkiye is not only one of the world’s largest economies but also one of the fastest-growing in the region,” Simsek said.
“Even when compared to countries like China and India, Türkiye’s performance stands out. Thus, Türkiye is not just a large economy but also a dynamic one, making it an attractive destination for investment.”
Simsek drew attention to infrastructure projects, saying “In the last two decades, we have prioritized infrastructure, investing approximately $280 billion. Over the next 20–30 years, we plan to invest at least $200 billion more. Türkiye boasts a large and fast-growing market with a strong infrastructure. According to the World Bank’s Logistics Performance Index, we rank 38th globally, surpassing 91 other developing nations.”
‘Disinflation is our top priority’
Simsek also addressed concerns regarding Türkiye’s current account deficit, noting the crucial role of tourism and service exports in alleviating the issue.
While exports have seen a modest increase, the reduction in imports has been a more significant factor, Simsek said. He pointed out the importance of structural transformation, particularly in energy to ensure sustainability.
Simsek elaborated, “Reducing the current account deficit permanently will stabilize the Turkish lira and ensure macro-financial stability. Last year, concerns over our reserves were prominent, but we have addressed them. Türkiye’s net reserves, excluding swaps, have increased by approximately $105 billion, ensuring adequate reserve levels by international standards.”
Highlighting the government’s commitment to combating inflation, Simsek remarked, “Disinflation is our top priority. Our program’s most critical goal is to bring inflation down to single digits permanently. We expect to close this year with inflation at around 44%-45%. Although this is slightly above our target, breaking the rigidity in service inflation is taking longer than anticipated.”
