Finance Minister says ‘Turkey’s economy is at a turning point’

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Minister of Treasury and Finance Berat Albayrak had a meeting with foreign investors organized by private lender Citibank yesterday (October 27).

As reported by the state-run Anadolu Agency (AA), Minister Albayrak has indicated that global firms need objective, resistant, reliable, and dynamic partners like Turkey in the current era, stressing that the country's economy is at a turning point as a new wave of investments is in sight.

"Turkey is a strong, large market with a middle class with growing purchasing power, rapid economic growth, and a Gross Domestic Product (GDP) that has tripled over the last 20 years," he has stressed.

Turkey offers investors unique opportunities with a production base, educated human resources, and strong logistics infrastructure, Albayrak has underlined, adding that the novel coronavirus (COVID-19) pandemic has shown that "the dependence on the East Asia region is too risky."

Turkey's location at the intersection of three continents, logistics advantage, economy, young population, and educated workforce are among its strong features, Minister Albayrak has added further.

On the other side, while Minister of Treasury and Finance Albayrak was delivering this speech yo foreign investors, the exchange rate of the US dollar was 8.17 Turkish Lira (TRY) and that of the Euro was 9.67, according to the Google data. (DŞ/SD)