Turkey's priority lie in currency, price stability, says official

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's main priorities are ensuring stability in exchange rates and prices, as well as to bolster predictability, the country's industry and technology minister said on Wednesday.

Speaking at an event organized by a business association, Mustafa Varank stressed that the country was pushing forward on domestic production in order to reduce foreign dependency in every field.

Noting that Turkey was one of the few countries that achieved positive economic growth rates in the aftermath of the coronavirus outbreak last year, Varank said this success was not a coincidence. "We're able to achieve these successes as a result of our strong production infrastructure, which we have thanks to our investments."

Increasing domestic production activities will further boost the economy's resilience against foreign shocks, he underlined, adding that an economic climate would be established to facilitate access to funds for those who want to invest.

Varank stressed that technological developments in recent years and rapidly increasing digitalization posed a major opportunity for Turkey as it put countries on equal footing in terms of technological competition.

Turkey aims to create added value of around $20 billion in the short term in the manufacturing industry alone by building its digital capabilities and digital maturity, he added.