Turkish Treasury and Finance Minister Mehmet Şimşek provided insights into the 5.9% growth of the Turkish economy in the third quarter of 2023 compared to the same period last year.

Taking to his social media platform, Şimşek underscored the nation's stride towards a more balanced growth composition as outlined in their program projections.

He highlighted the contraction in private consumption vis-à-vis the previous quarter, coupled with notable increases in investment and exports.

In his statement, Şimşek affirmed the commitment to ongoing policies until achieving a sustained reduction in inflation, current account deficit, and macrofinancial stability.

Emphasizing the intention to fortify the foundation for sustainable high growth, he acknowledged the positive outcomes of the disinflation program. Investor confidence has surged, risk premiums have diminished, international capital inflows commenced, reserves strengthened, and exchange rate volatility decreased.

Şimşek's remarks offer a comprehensive overview of the economic landscape, showcasing the government's strategies to bolster Turkey's economic resilience and foster long-term growth. (ILKHA)