“Turkey to take care to support export-fueling sectors”

 

Finance and treasury minister Berat Albayrak delivered a speech in 2020 Year Budget at TGNA.

 Turkey will take care to support sectors focused on exports and value-added production, the country’s finance and treasury minister said Wednesday.

In his 2020 budget speech to parliament, Berat Albayrak said Turkey’s exports have not fallen despite the contraction of global trade.

Turkey has supported domestic production and resources to reduce the country’s imports, said Albayrak.

"In the coming days, we will continue to take care to support sectors based on exports and value-added production," he added.

Following contractions of 2.3% and 1.6%, respectively, in the first two quarters of 2019, Turkey’s economy grew 0.9% on year in the third quarter, according to the country’s statistical authority.

In 2018, the economy posted annual growth of 2.8%, narrowing in the last quarter.

The country’s economic program for 2020-2022, unveiled on Sept. 30, targets a 5% annual growth rate for each of the next three years.

Albayrak noted that the move of Turkey’s central bank to Istanbul would be completed in 2022.