Hurriyet Daily News – Turkey has become the world’s 17th and Europe’s sixth largest economy due to the efforts it has made in the last seven years, said Nihat Ergun, Turkey’s Industry and Trade Minister.
Industry has played a major role in that success, Ergun remarked while presenting his ministry’s budget to Parliament's Planning and Budget Commission on Friday.
A recently published industrial production index and changes in the capacity utilization rate indicate a recovery period in industry has begun, he noted.
The industrial production index, which stood at 84.5 in February 2009, rose 23 percent to reach 104.1 in September, he remarked. The capacity utilization of the manufacturing industry increased to 71.8 in October, up 1.7 percent from September, Ergun added.