Türkiye's per capita income projected to top $10,000 in 2022

By Gokhan Ergocun

ISTANBUL (AA) - The income per capita in Türkiye is expected to exceed $10,000 in 2022, and the country targets to top $12,000 in 2023, the treasury and finance minister said on Monday.

Speaking at a press conference in Istanbul, Nureddin Nebati evaluated economic figures from 2022 and spoke of 2023 expectations.

The world, he said, saw historic-high inflation levels in 2022, while Türkiye achieved to post successful figures in all macroeconomic indexes last year.

Borsa Istanbul provided the highest return in 2022 with 111% on the US dollar basis, the minister underlined.

In Borsa Istanbul, the companies' market value was up by 184% to 6.2 trillion Turkish liras ($329.9 billion) last year.

Türkiye’s gross reserves totaled $129 billion in 2022, the highest level since 2014, while it increased its gold reserves by 129 tons.

Türkiye closed 2022 with $254.2 billion in exports despite all negative conditions in the global market.

The country's economy grew 6.2% during the January-September period, he said, adding that while global growth expectations were lowered, forecasts for Türkiye were increased.

Türkiye welcomed 51.5 million visitors and earned $46 billion in 2022, according to forecasts, Nebati said.

After a four-year period, Türkiye achieved to post non-interest budget surplus in 2022, he stressed.

The budget-deficit-to-GDP ratio was at 1% in 2022, while it was 11.1% in 2002, he said, adding that the interest payments' share was at 10.6% in 2022, down from 43% in 2002.