New economic model will place Turkey among top 10 economies: Erdoğan

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ISTANBUL

The new economic model that the government has recently started to implement will help Turkey become one of the world’s top 10 economies, President Recep Tayyip Erdoğan has said, reiterating that high interest rates are the cause of a high inflation.

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“With our new economy program, we are moving rapidly towards our goal of placing Turkey among the top 10 economies,” Erdoğan said in a speech to members of the ruling Justice and Development Party (AKP) at a meeting. meeting in Istanbul on 2 December. 26.

The new model prioritizes investment, production, export and employment as the main pillars for the growth of the Turkish economy by lowering interest rates. “Interest rates make the rich richer and the poor poorer. We will break this cycle and let our people achieve the main objective,” he said, reiterating his view that inflation is the result of high interest rates.

Turkey has withstood all global economic crises thanks to the infrastructure that AKP governments have provided over the past 19 years, Erdoğan said, adding: “We must explain that our ultimate goal of becoming one of the top 10 economies of the world is a near reality. and no longer a dream.

Erdoğan recalled that the AKP has goals for 2023, the centenary of the Republic of Turkey, and a vision for 2053, the 600th anniversary of the conquest of Istanbul, accusing certain foreign powers and their collaborators of having tried to repress.

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“We should say [our citizens] that the plots to destroy our economy are meant to distract us from our goals. They should also be told that the recent games on interest rates and foreign currencies [appreciation against the national currency] are part of this conspiracy, but we have enough power and determination to defeat them,” he suggested.

If Turkey was able to go this far, it is thanks to the power of the AKP governments since the beginning of the 2000s, the president said, stressing that all these goals set for 2023 and 2053 can be implemented by the party.

Some foreign powers are unhappy with building a big and powerful Turkey, Erdoğan said, and accused the main opposition party of pursuing a policy of lies against the AKP government. “We must persuade our people that Turkey will face the greatest disasters if the power of this country passes to them. [the opposition alliance] as we saw in Istanbul following the municipal elections [in 2019],” he said.

Calling on all branches of the AKP to redouble their efforts for the upcoming elections in 2023, Erdoğan said the opposition is also working towards the elections much more ambitiously and with support.

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