1/21/2011

Industry Minister: Investments to pick up speed in 2011

Dunya - Turkey’s Minister of Industry and Trade Nihat Ergun said that, from a macroeconomic point of view, Turkey is one of the few countries in the world that radiates confidence to global investors.

“Investments will pick up speed in 2011,” said Ergun, attending a Gaziantep Chamber of Industry meeting, hinting that large-scale investments in the automotive and energy sectors are expected in the coming months. Providing 2010 data on industrial output and exports, Ergun said that vehicle sales in the country increased by 38 percent and hit a record level of 509,000. “The unemployment rate was also down by 1.8 percent in October, and 953,000 new employees joined Turkey’s active workforce,” said the Industry Minister. “The downward trend in unemployment indicates a strong 2010 performance and high expectations,” he added.

“Turkey’s growth rate is expected to be around 8 percent for 2010, and I believe that a 4.5 percent growth estimate for 2011 can easily be surpassed,” the Minister noted.
turkey; turkish economy; automotive investment; energy investment; nihat ergun; unemployment rate

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