Yesterday, Saturday, Turkish Treasury and Finance Minister Nureddin Nebti said that his country's economy continues to grow, export and create job opportunities despite the current global and regional challenges.

This came in a speech during his participation in the second Arab-Turkish Business Summit, held within the framework of the International Business Forum in Gaziantep, southern Turkey.

Nebti noted that Turkey is a country that enjoys great advantages in terms of development due to its dynamic population, strong industrial infrastructure, and entrepreneurship in the business world.

He added: Thanks to these advantages, our country showed a strong growth performance for many years, and was one of the countries that recovered from economic crises as quickly as possible, and this tradition did not change during the period of the Corona epidemic, which hit the global economy hard.

The Minister of Finance pointed out that the banking sector continues to grow and remain strong despite the crisis and shocks.

Nabati explained that the total size of the banking sector's assets increased by the end of 2021, by 51% compared to the previous year, reaching 9.2 trillion pounds (the dollar = 17.11 pounds).

He stressed that the Turkish economy continues to grow, export and create job opportunities despite the current global and regional challenges.

face inflation

Vegetarian said that the Corona pandemic that swept the world during 2020, and the Russian and Ukrainian wars that erupted this year, have caused a rise in the prices of basic commodities in the world, especially energy and food prices, as well as a disruption in supply chains.

The minister made it clear that combating rising inflation - which reached its highest level in 24 years at 73.5% last month - remains a top priority.

Turkish Minister of Trade: Turkish contractors are undertaking 3.5 thousand projects in Arab countries, with a value of $167.6 billion.

He also mentioned that the world's inflation rates have reached their peak in the last 40 years, and developed countries have not escaped them.

Nebti noted that Turkey is still favorably distinguished from many countries in terms of budget deficit and public debt stock.

The government has launched a series of steps aimed at using banks and bond markets to cool rising inflation and stabilize the falling currency.

For his part, Minister of Commerce Mehmet Muş said, during the same occasion, that the Turkish economy achieved a growth of 11% during the past year compared to the previous year, and thus achieved the strongest growth rate in the past ten years.

Muş announced that his country's total exports last year hit a record high of $225 billion, stressing that Turkey aims to raise the value of its exports to $250 billion annually.

He pointed out that the volume of trade with Arab countries amounted to $67.4 billion in 2021, an increase of 14.2% compared to the previous year.

Muş stressed that Turkey is willing and determined to take all steps to develop relations with Arab countries.

He explained that Turkish contractors are undertaking 3,500 projects in Arab countries, worth $167.6 billion, and are making a significant contribution to their development.