Economic

Foreign investors: Turkey may be one of the largest production bases

A prominent economist at Capital Economics said that the Turkish economy achieved growth in the first quarter of this year thanks to strong performance during January and February, while another indicated that Turkey may become one of the largest production bases in the world. 

In an interview with Anadolu, economist Jason Tofy at Capital Economics, a London-based consulting firm, mentioned increased spending and family investments in Turkey during the first quarter.

And “Tofy” talked about the increase in public spending in the first quarter in Turkey, noting that the sharp increase in public spending reflects the increase in spending of the health sector, with the partial increase in Corona virus infections.

He explained that net trade had supported growth slightly. But he has made little contribution in this area.

“The global crisis represented by the Corona virus could create opportunities for Turkey,” said Pyotr Matisse, a senior economist at the Rabobank banking group, based in the Netherlands.

Mattis explained that Turkey could be an attractive country for foreign companies wishing to diversify their supply chain plan or wishing to change the countries they deal with from China to Europe.

He stressed that Turkey may become one of the largest production bases in the world.

Foreign investors: Turkey may be one of the largest production bases

For his part, said, “Nigel Rendel” Director of the company ” Global Advisors” for economic consulting, that the growth of the Turkish economy by 4.5 percent in the first quarter, was within the expectations.

Earlier Friday, the Turkish Statistics Authority announced that the Turkish economy achieved a growth rate of 4.5 percent during the first quarter of this year.

The data of the commission showed that the gross domestic product at current prices increased 16.2 percent in the first quarter compared to the same period last year, and reached trillion and 71 billion and 98 million Turkish liras.

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