Erdoğan: Global crisis confirms realistic and healthy approaches of Türkiye

Every global crisis has confirmed how Türkiye's economic approaches, once seen as "going against the grain," are correct, realistic, and healthy, the Turkish president said on Friday.

Speaking at the Economic Transformation and New Paradigms Summit in the financial capital Istanbul, Recep Tayyip Erdoğan said the world is trying to understand and adapt to the new challenges brought by the pandemic and Ukraine war but that Türkiye already has experience with these challenges.

Türkiye has created a new path by analyzing the developments, opportunities, and challenges in the world and in its region in the best way possible, he said.

He added: "The unfair, unlawful, and unjust political and economic sanctions against our country compelled us to seek this path."

While doing this, Türkiye has never broken away from global and local realities, the magnificent accumulation of economic theories, and centuries-old rich experiences, he said.

Erdoğan stressed: "With the mechanisms and measures we have created, we have thwarted the traps."

Türkiye formed its economic model based on growing with investment, production, employment, exports, and a current account surplus, he said.

While the world suffered negative growth rates and even recession, Türkiye has continued to grow thanks to its program, he added.

Erdoğan explained: "We stood out with our strong infrastructure, qualified young human resources, and flexible business models against disruptions in traditional production and supply chains in the world.

"We are moving step by step towards the goal of placing our country among the world's top 10 economies."