Sabah (Special Issue) – Having reached an average annual growth rate of over 5 percent in the last ten years, Turkey is the only consistently growing economy in Europe, according to the President of the Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci. Speaking on his return from the Turkey Investment Week in the US, Ayci spoke of Turkey’s perception in the eyes of foreign investors undergoing a profound change over the last decade.
“The political and economic stability achieved in the last decade has greatly improved Turkey’s image regarding the business and investment environment . Having drawn some USD 123 billion dollars of FDI in the past decade alone, Turkey is projected to attract USD 100 billion in the next 5 years..”, the ISPAT President said about the country’s outlook while celebrating the 90th anniversary of the foundation of the Republic of Turkey.
Comparing the FDI amount in the first 80 years of the Republic, amounting to USD 15 billion, with the USD 123 billion received in the last 11 years under the Justice and Development Party (AK Party) administration, Ayci said that the accomplishment was obvious.
“According to the Organization for Economic Cooperation and Development (OECD)forecasts, Turkey will see a growth average of 5.2 percent during 2012-2017, while other OECD members are forecasted to grow at 2.4 percent for the same period..”, Ayci noted.
“Moreover, these forecasts are continuously revised upwards..” Ayci remarked, adding that the Turkey’s economic outlook and the inflow of investments highly depended on regional and global attributes and not only on the internal dynamics of the country.