Turkish President Recep Tayyip Erdoğan said the government is targeting a significant expansion in the economy even after the COVID-19 pandemic hit activity.
Turkey is “activating its potential” with a focus on investment, production, growth, employment and exports, Erdoğan said in a speech on Monday to provincial officials of his governing party, according to the state-run Anadolu news agency.
“We are carrying out necessary reforms required for strong growth in the economy,” Erdoğan said. “We are determinedly implementing policies which we developed.”
Erdoğan’s government has sought to spur economic expansion through low-cost loans and tax cuts. The measures helped the economy grow an annual 6.7 percent in the third quarter of last year but came at the cost of double-digit inflation and a slump in the value of the lira.
Erdoğan said presidential and parliamentary elections in 2023 would be “an historical turning point” for Turkey.