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Articles

Turkish Government Is Positive about the Economy in 2018

Written by: Bridgewest

The Turkish economy has reached an impressive growth in 2017, the last quarter alone being one of the best since 2011. Despite the slowdown in external demand, the economy has registered other remarkable results, among which a powerful manufacturing industry. It is also important for the country to keep growing through industrialization, according to the authorities. Our company formation consultants in Turkey can help foreign investors who want to open companies in this country.

Turkey registered a 11.1% economic increase in Q3 of 2017

The growth performance of the Turkish economy has been excellent in 2017, despite the economic turmoil registered at global level, which affected the exports of large companies in the country. This increase was due to the high level of industrialization which has helped companies to optimize their processes and feel less the effects of the unsteady global economy. Job creation has also contributed a lot to this increase.

In numbers, Turkey’s economy registered 7.4% increase in the first 9 month of 2017, while the third quarter alone brought a spectacular 11.1% growth. Reports indicate an overall increase of 6.5% for 2017.

Foreign investors who want to start businesses in this country can rely on our company registration services in Turkey.

How will the economy perform in 2018?

The forecast for 2018 is also optimist, according to the government, but also to analysts. If the government hopes the economy will grow by close to 6% thanks to private investors who are expected to return to the country thanks to a new set of incentives announced at the end of 2017.

Among the industries to benefit from these incentives, energy, petroleum refinery and petrochemicals are just a few of them. The production of raw material is also expected to the subsidized by the government this year. This production is hoped to help with the increase of exports to 169 billion USD. Also, tourism is once more expected to reach new highs in 2018, as the construction of a new airport is underway.

Foreign entrepreneurs interested in setting up their companies in any of the industries mentioned above are welcomed to contact our company registration consultants in Turkey for assistance.

 

 

 

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