Minister Bolat provided a new figure for per capita national income.

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Trade Minister Ömer Bolat stated that very large resources have been allocated for the reconstruction of the earthquake zone, saying, "Over 2 trillion lira has been allocated to the earthquake zone in two years."

"IMAM HATIP HIGH SCHOOLS PRESENT A EXEMPLARY MODEL"

Bolat, in his speech at the 5th Ordinary Congress of the Association of Leading Industrialists and Businessmen (ÖNSİAD) held at the Turkey Exporters Assembly (TİM) Foreign Trade Complex, said that the blessed educational journey that began with the establishment of the Ilim Yayma Society in 1951 and the opening of Istanbul Imam Hatip High School in the same year has spread across the entire country. Stating that Imam Hatip high schools offer an exemplary model to the education world with their curriculum that combines faith, culture, and values with science and social sciences, Bolat explained that these schools have raised patriotic, moral, and nation-oriented individuals over the years, contributing value to Turkey in many fields such as bureaucracy, academia, politics, and business.

"TURKEY MANAGED THE PROCESS WELL"

Bolat mentioned that ÖNSİAD was founded by graduates of Imam Hatip high schools, stating that the association brings together Turkey's qualified and equipped individuals in the business world under the same ideal. Bolat emphasized that Turkey has faced wars in its geography in recent years and global adversities such as COVID-19, highlighting that the world is facing a high inflation crisis after the pandemic. He noted that while fighting high inflation, the Russia-Ukraine War began, negatively impacting food and energy prices, and explained that thanks to the policies implemented by Turkey, the reforms applied, and the effective management of the process, the country was minimally affected by this war.

"EARTHQUAKE REGIONS ARE QUICKLY RECOVERING"

Minister Bolat addressed the effects of the Kahramanmaraş-centered earthquakes that occurred after the war, stating that the initial estimate of the material damage caused by these earthquakes was 105 billion dollars. Bolat said, "Our government has shown very successful crisis management in terms of debris removal, search and rescue, and meeting the housing, food, education, and social needs of 13 million people." He explained the efforts made for the recovery of the region, which has an estimated material damage of 105 billion, stating that despite the challenges of inflation, the effects of the earthquake, wars in the region, and all adversities, the Turkish economy recorded significant growth last year. Bolat stated, "In the first quarter of this year, we grew by 5.3%, and in the second quarter, we grew by 2.5%. We reached an average growth rate of 3.8%. Demonstrating this growth performance after such great difficulties and natural disasters was a significant achievement. We achieved this together with you, our people, the private sector, our dynamic economy, and our entrepreneurs. We did it by increasing our exports."

GIANT RESOURCES FOR THE EARTHQUAKE ZONE

Bolat, stating that financial support was provided at low interest rates to keep the wheels of the economy turning, to continue investments, production, and exports, continued his remarks: "In this process, a very large amount of resources needed to be allocated to the earthquake zone. Over 2 trillion lira has been allocated to the earthquake zone in two years. When the earthquake occurred in February 2023, our expenditure budget was set at 4.5 trillion lira. Then, with the supplementary budget in July, it was increased to 6 trillion lira. According to the calculations at that time, the burden of the earthquake was 2.2 trillion lira. This meant that an expenditure equivalent to 40% of the state budget was required. This can only be achieved through solidarity. Look, even before two years have passed, the earthquake regions are quickly recovering."

"PER CAPITA NATIONAL INCOME WILL RISE TO 15 THOUSAND DOLLARS"

Trade Minister Bolat stated that Turkey's national income reached 1 trillion 130 billion dollars by the end of last year and 1 trillion 202 billion dollars in the first half of this year, indicating that per capita national income will rise to the range of 14 thousand 500 to 15 thousand dollars. Bolat noted that Turkey has grown at an average annual rate of 5.4% over the last 20 years, stating that only China and India can compete with this growth rate.

"TURKEY HAS BEEN RENEWED FROM TOP TO BOTTOM"

Bolat, discussing the increase in the export of goods and services, the rise in export unit value per kilogram, and the investments made in transportation and infrastructure over the last 22 years, made the following evaluations: "Turkey has been renewed from top to bottom. Schools, universities, public hospitals, roads, bridges, airports, seaports, high-speed train projects, and double roads have all been renewed. Do you know why I am saying this? The opposition has been constantly creating a narrative of crisis lately and trying to drag the country into a chaotic environment with lies and slanders on social media. They are trying to find a way to power through this. We are aware of everything. We will continue to work for a strong and stable Turkey. God willing, our dear and noble nation, which has been working, honest, patriotic, and has eliminated terrorism, has strengthened its army and defense industry, increased its production under the leadership of our President, who has maintained stability for 22 years in a region surrounded by fire, will again leave the opposition's target and crisis-mongering in their throats."

"WE ARE STRENGTHENING OUR PLACE IN THE WORLD"

Minister Bolat, discussing the recent successes Turkey has achieved in the defense industry, stated that Turkey has attracted 270 billion dollars in international investment over the last 22 years, becoming an attractive market for foreign investors. Bolat asked, "Would capital or tourists come to a country without strong and stable management and economy?" and noted that in such a case, even domestic investors would flee abroad. Bolat stated, "However, with our citizens, our private sector, and incoming foreign investors, we are strengthening our place in the world and climbing the ladder every year."

TOURISM TARGET 60 BILLION DOLLARS

Bolat stated that they aim for 60 billion dollars in tourism this year, noting that Turkey is the shining star of Europe in the exhibition industry and that the most important fairs in the region are now held in Turkey. He explained that Turkey has achieved great successes in automotive, ceramics, white goods, textiles, construction materials, and many areas of industry. Bolat remarked that it is always said, "We can never reduce our current account deficit," stating, "We are rapidly reducing our foreign trade deficit. The deficit, which reached 122 billion dollars, has now fallen to 78.5 billion dollars. Our current account deficit was 55.6 billion dollars in August, and we reduced it to 11.3 billion dollars."

"UNEMPLOYMENT HAS FALLEN BELOW 10%"

Bolat explained that unemployment fell to 8.5% in August and has remained below 10% over the past year, stating that employers everywhere are complaining about "not being able to find employees and qualified personnel."

Bolat said, "The total employment is close to 33 million. Under what conditions? Despite COVID-19, the Russia-Ukraine War, the energy crisis, the earthquake disaster, and especially the balancing and monetary tightening in the fight against inflation, we have managed to maintain the employment level."

"WE WILL ENTER A RAPID DECLINE PROCESS IN INFLATION"

Trade Minister Bolat provided information about the implemented Medium-Term Program, stating, "Our main goal is to restore the earthquake-affected regions within a total of 3 years, 1.5 years have been completed. We will complete the second year in a few months. In the third year, hopefully, we will enter a rapid decline process in inflation. The year 2023 was a transition period. Starting from June 2024, the disinflation process will begin."

Bolat noted that the years 2025 and 2026 will be a period of stability, stating, "We will bring inflation down to below the 20s and subsequently to single digits."

STRICT MONITORING AT CUSTOMS

Bolat discussed the transition to a green economy, the incentives and grant programs offered to exporters, developments in areas such as high value-added production and exports, and the free trade agreements signed to increase foreign trade, saying, "With the measures we have taken against imports that violate international rules, we have achieved a significant decline in imports. Our annual imports have decreased from a peak of 372 billion dollars over the last 12 months to 340 billion dollars."

Minister Bolat spoke about the strict inspections they carry out at customs, stating, "We are on alert against efforts such as smuggling and drug trafficking at customs, and we are making intensive seizures. In the first 9 months of this year, we have seen a 400% increase in our drug seizures."

After the speeches, ÖNSİAD Board Chairman Hayri Yorulmaz and ÖNSİAD Board Chairman Candidate Ekrem Kap presented a gift to Minister Bolat in memory of the day.