Erdoğan calls on Turkish businessmen not to delay their domestic investments

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Turkish President Recep Tayyip Erdogan delivers a speech during a ceremony marking the beginning of the 2016-2017 academic year for higher education at the Bestepe National Congress And Culture Center in Ankara on October 18, 2016. / AFP PHOTO / ADEM ALTAN

President Recep Tayyip Erdoğan has called on Turkish businessmen not to delay their investments in the country at a time when Turkey is trusted by international investors.

“If our own businessmen do not stick to investments in Turkey with their heart and soul and make the mistake of delaying their investments at a time when international investors trust Turkey, this will only make them lose,” Erdoğan said in a speech in İstanbul on Sunday.

The president said Turkey has never disappointed anyone who trusted the country, and since most international investors are aware of this, they are increasing their investments in Turkey.

In a statement earlier this month the International Monetary Fund said increased political uncertainty, a fall in tourism and high levels of corporate debt are taking their toll on Turkey’s economy, where growth is expected to fall to 2.9 percent this year.

The global lender also said Turkey’s current monetary stance, which balances the need to contain inflation with a slowing economy, should be maintained without further easing.

The IMF is the latest foreign institution to signal concern about the political situation in Turkey. Rights groups and some of Ankara’s Western allies have been alarmed by the crackdown that followed a failed coup in July, saying President Erdoğan is using the putsch to stifle dissent.

 

 

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