The reasons behind the success of the Turkish economy | Al Huda

the success of the Turkish economy

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In the last few years Turkey has accomplished a lot of successes and took huge steps in the field of economy, which had showed the Turkish economy as a strong competitor in front of the European economies one of the world's strongest economies.

This big development that the Turkish economy has witnessed is due to a lot of reasons:

1. The political stability

The current Fairley elected turkish government has made a lot of huge and important development projects, in addition to the general improvements in the field of human rights and personal and expression freedom,Which gave the government more credibility in the people’s eyes and this has brought stability to the country.

2. The economic improvements:

The Turkish government has worked on general debt payment, and it’s followed a successful economic plan where the country’s economic system was restructured, by developing the banking systems in general.

A development pattern was also followed in the matters of exports which has helped in decreasing the markets inflation, governmental hospitals, universities and schools were also constructed in addition to the privatization of the state’s facilities that are responsible of electricity and energy distribution, all of these wise steps has reduced the general dept and inserted more than 70 billion dollars to the state treasury.

3. The foreign economic policy

The Turkish government has focused on following an active foreign policy in the field of economy where Turkey turned its economic interests to the middle east and the Arab countries, middle asia and south caucasus and other countries.

It has also rebuilt the regional relations and helped Turkish business men to increase their economic cooperation with other countries through making more partnerships, deals and advertisement in order to bring more investments and funds into Turkey.

The foreign investments have played an important role in increasing the rates of turkish economic development, where the turkish government has worked on making the investment in the field of real estate in turkey more active by the legalization of ownership laws for foreign and provided all the needed facilities for the investors.

Because of that the turkish real estate market has witnessed a remarkable attendance by the foreign investors who want to purchase apartments in istanbul as the city of istanbul is considered the first favorite destination for real estate investment in turkey. And that’s because Istanbul is the economic capital in turkey where the country’s largest construction and infrastructure projects are found.