Turkish President Recep Tayyip Erdogan summarized Turkey’s economic crisis with one phrase, the “War of Economic Independence”, stressing that Turkey will emerge from this war with victory, with a clear determination to continue the economic revival that his country is witnessing.
Erdogan and the War of “Economic Independence”
Given the importance of the Turkish economic file, the “Omran Trk” real estate company is keen to keep up with economic events and their repercussions on the real estate sector and other sectors, especially investment, tourism and others.
Omran Trk has worked on following up what Erdogan means by the phrase “the war of economic independence”, and how he will work to face the war and what efforts he will make to stop it and move forward strongly towards economic growth despite the challenges.
According to Omran Trk’s follow-up, Erdogan has escalated his supportive tone for the Turkish economy since mid-November, when the Turkish lira began to decline against hard currencies, especially the dollar.
Among the most important things Erdogan said about this, reassuring to the Turkish street, is that “Turkey will emerge victoriously from the war of economic independence that being waged in the current period, as happened in other fields.”
It has become noticeable that Erdogan seeks to focus on investment, production and employment, in addition to focusing on export-oriented economic policy, and encouraging investment, production and export.
To confront this war, Erdogan and the government he leads serving the country, that he “will not allow the opportunists who excessively raise the prices of goods under the pretext of the high exchange rate, and emphasize the continuation of the struggle against them.”
Economic observers believe that Erdogan is counting on facing the “war of economic independence” on the sufficient experience that his country has in managing financial crises, in addition to the ability to seize the opportunities that have been made available during this critical period the world is going through, especially the “Corona” pandemic.
Ongoing economic steps
From time to time, President Erdogan praises the service, medical, economic, educational and defense projects in Turkey since the Justice and Development Party came to power in 2002.
This economic crisis, despite all the challenges, highlighted the extent to which Erdogan and the Turkish government care about the Turkish citizen and its livelihood, and for that, many economic steps are being pursued, including:
• Reducing the value of interest values in banks.
• Not allowing interest values to crush the people and farmers.
• Standing with citizens and supporting their actions.
• Not to retreat from production and job creation.
• Not to retreat from the economic program that focuses on the trade balance.
Erdogan described these important economic steps as “the biggest struggle for economic independence” in the history of the republic.
Long-term investments in Turkey
Despite the instability of the lira against hard currencies and the fluctuation of its price from one moment to another, President Erdogan had another point of view, through the sudden message and the old renewed invitation to investors and businessmen, addressing them that “the time for long-term investments has come, and whoever implements such investments in Turkey always wins.” This is an additional and preemptive step in the “war of economic independence”.
Among the strong messages sent by Erdogan, which were monitored by the “Omran Trk” company, and reported by official Turkish media sources:
• The Turkish economy has strength and capabilities that enable it to confront economic threats.
• Until the next elections in 2023, we will witness a recovery of the lira and a decline in inflation as a result of reducing the interest rate.
• Our goal is to provide comfort to the people and merchants through a low-interest rate and to provide more investment.
• We will not tolerate those who seek to confuse the market and manipulate prices.
• We plan to produce 10 million cubic meters of natural gas per day from 10 wells in the Sakarya field in the first phase, and this number will rise to 40 million with the completion of the second phase of the same field.
• We expect the growth of the Turkish economy this year to reach 10 percent as a minimum.
• We will not allow anyone to make economic growth unstable and we will get out of this cycle.
One of the most reassuring messages to the Turkish people, investors and businessmen were what Erdogan said, “We are facing speculation in interest and foreign currencies, and only we can prevent this.”
“Turkey is no longer the old Turkey, and it will not succumb to the economic threats made through the financial markets. Our real economy has the strength and ability to completely neutralize these threats,” he added.
Expectations for the growth of the Turkish economy in 2021 and 2022
Reassurances regarding the Turkish economy were not limited to what President Erdogan said, but was also followed by the release of the emerging markets report for Europe, the Middle East and Africa, issued by Standard & Poor’s, a credit rating agency, which raised the expectations of the growth of the Turkish economy. For the years 2021 and 2022.
The report raised its forecast for the growth of the Turkish economy during the current year by 1.2 points to 9.8%, while its expectations for growth in 2022 increased by 0.4 points to 3.7%, and the agency also raised the economic growth forecast for Russia for this year by 0.2 points to 4.2%, and by 0.1 points. to 2.7% for the year 2022.
For its part, and according to what Omran Trk Real Estate followed, the Organization for Economic Cooperation and Development (OECD) announced raising its forecast for Turkish economic growth to 9% by the end of 2021.
The international organization revised its forecast for the growth of the Turkish economy over the next year, raising it from 3.1 to 3.3%, while it expected growth of 3.9% during the year 2023.
In the same context, the Turkish Statistics Authority revealed that the country’s economy grew by 7.4% during the third quarter of this year, compared to the same period in the previous year 2020, according to the Turkish “Anatolia” agency.
Omran Trk calls for optimism about the future of the Turkish economy
In the midst of all these events in the Turkish economy and the “war of economic independence” that President Erdogan talked about, “Omran Turk” company invites all its customers to trust the economic sector in its various fields in Turkey.
In this regard, Abdulaziz Al-Kashef, Chairman of the Board of Directors of Omran Trk, confirms that “the wheel of the economy will continue to spin and its repercussions will appear very soon, whether on the real estate market or even on the tourism sector and for that, investors must seize the opportunity and keep pace with the upcoming economic growth in various fields”.
And he indicated that “Omran Trk” keeps pace with economic events, moment by moment, to reassure its customers and convey a clear picture of plans, projects, and the upcoming economic, urban and tourism renaissance in Turkey.
Since its establishment in 2016, Omran Trk Real Estate Company has raised the slogan “Successful Investment in Yalova Paradise”, to be the beginning with successful projects that caught the attention of investors and businessmen from various Arab countries, namely Al-Morouj and Yalova Paradise.
Omran Trk company was able to leave its mark on the Turkish community within a short period of its launch, with the testimony of several Arab and even Turkish personalities.