The Turkish Economy:

Updated: Dec 13, 2019


Turkey has achieved many successes and qualitative leaps in the economic field in few years and has been able to record high rates of presence among the economies of major European countries.

Turkish economic development is due to several factors that played a key role in the stages of its prosperity, including:

Political Stability

The current Turkish government, which came by election boxes, implemented major development projects in the country, in addition to general reforms and the freedom that was given to the people according to international standards, the government managed to win the confidence of the Turkish street and achieved political stability in the country.

Economic Reforms

The Turkish government repaid the public and foreign debts of the Turkish state and followed successful financial systems, as the financial system in the country was restructured through the development of public banks in Turkey. The development model was followed in the field of exports and low inflation in the markets and the establishment of hospitals, universities and government schools in addition to the privatization of state laboratories and power distribution systems resulting in the introduction of $ 70 billion into the state treasury

Foreign Economic Policy

The Turkish state was keen on pursuing an active foreign policy in the economic field. Turkey returned to the Arab region, Central Asia, the South Caucasus and other economic gates.

It has created regional relations and helped Turkish businessmen increase economic cooperation with other countries by stimulating partnerships and deals and promoting the introduction of investments and capital into Turkey. Bringing foreign investment which has played a big role by increasing rates

The foreign investment has contributed in the economic growth in Turkey as the Turkish government has been interested in stimulating investment in the real estate market in Turkey and has legislated special laws for foreign ownership and provided all necessary facilities for investors.

The real estate market in Turkey has witnessed a huge demand by foreign investors who want to buy apartments in Istanbul city, where Istanbul is the first Turkish destination for real estate investment in Turkey. This is due to the importance of being the economic capital of Turkey and the incubator for the major reconstruction projects and infrastructure projects in the country.

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