02.12.2019 Ankara
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu assessed the 2019 third quarter growth figures. Hisarcıklıoğlu stated that the first concrete signal that the process of economic growth has begun:
“2019
third quarter growth was 9‰, in line with expectations.
The
first concrete sign that the economic growth process has begun has come. The
downsizing that has been going on for three quarters is over.
We're
leaving the turbulent process behind us. We will see more clearly the positive
effects of the interest rate reduction policy which is very important and
valuable for our real sector in the future.
Domestic
consumption is starting to revive and continued increase in exports is
positive.
The
increase in inventory figures with consumption reflects the expectation of our
companies for a more vibrant domestic market for the coming period.
This
growth boosts morale and hope for the future. However, some aspects of the
details should not be ignored.
In
particular, the real sector expects additional measures to be taken in the face
of the decrease in investment expenditures.
We
estimate that annual growth will reach 1% in the last quarter, with growth
reaching around 5%.
We
believe that in 2020 we will see a stronger growth process in the economy.”