President Recep Tayyip Erdoğan announced that the Turkish economy has grown enormously over recent decades, with national income in dollar terms rising sixfold and placing Turkey among the trillion-dollar economies. The shift reflects the scale of the economic transformation the country has been through, and has strengthened its standing both regionally and internationally.
Turkey among the world's strongest economies
According to Erdoğan, Turkey is now the fourth-largest economy in Europe and the eleventh in the world by purchasing power — an achievement that reflects the resilience of the Turkish economy and its capacity to adapt to global economic pressures. He noted that this progress did not happen overnight, but came from long-term economic policy and investment that lifted production and exports and created jobs.
Record reserves and stronger financial stability
The President confirmed that the Central Bank's reserves have passed $173 billion, the highest figure in the history of the Turkish Republic. Reserves on this scale reflect the stability of the financial sector and the state's ability to withstand global economic volatility, which strengthens investor confidence and makes Turkey a more attractive destination for foreign capital.
A growing Turkish share of the world economy
Among the achievements Erdoğan pointed to was the rise in Turkey's share of the world economy from 0.7% to 1.1%, an indication of its growing role globally. That increase is attributed to the continuing improvement in the business environment, the expansion of the industrial sector, and rising exports to international markets.
Record foreign investment
Turkey has attracted $272 billion in foreign investment over 22 years, a reflection of international investors' confidence in the Turkish economy. That investment plays a central role in supporting sectors such as infrastructure, industry and technology, and so in delivering sustainable growth.
Challenges and future prospects
Despite these achievements, the Turkish economy faces challenges — inflation and the rising cost of living among them — which call for balanced economic policy to preserve financial stability and deliver inclusive development. Even so, continued reform and strategic investment could reinforce Turkey's place among the world's leading economies.
Conclusion
These economic achievements are an important step towards strengthening Turkey's global position, and show its ability to make real leaps forward despite the difficulties. With ambitious economic policy continuing, Turkey appears to be moving steadily towards further success in the years ahead.