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Turkey targets over 5% growth in coming years: President

ANKARA, TURKEY - OCTOBER 05: Turkish President Recep Tayyip Erdogan addresses the crowd during his ruling Justice and Development (AK) Party's 29th Consultation and Assessment meeting in Kizilcahamam district of Turkish capital Ankara on October 05, 2019. Turkey targets a growth rate over 5% or more in coming years, President Recep Tayyip Erdogan said on Saturday.The country also aims to fall the inflation rate below 5% and to lower the unemployment rate under 10% at the end of New Economic Program for 2020-2022, Erdogan told his party members during the ruling Justice and Development (AK) Party's 29th Consultation and Assessment meeting in Kizilcahamam, a retreat town of capital Ankara.Revealed by Treasury and Finance Minister Berat Albayrak at the end of September, the new program unveiled Turkey’s targets for inflation, growth, unemployment, budget deficit, current account, and financial stability.The program targeted the inflation rate of 4.9%, the unemployment rate of 9.8% and the growth rate of 5% for 2022.The inflation rate, which saw the over 25% level in 2018, dropped to 9.26% in September."Interest rates dropped to a reasonable level with appropriate interventions of the Central Bank, I believe that they will drop more," he said.Turkish Central Bank's policy rate -- ranged between 8% and 24% last year -- fell to 16.50% in early September. The next monetary policy meeting for determining interest rates on Oct., 24."We will follow our economic road map in the next four-year period without an election and reach our 2023 targets," he underlined.He noted that Turkey is determined to use sources and saving based budget management efficiently."Turkey will keep the budget-deficit-to-GDP ratio under 3%," he added.The New Economic Program also targeted to keep the budget-deficit-to-GDP ratio at 2.6% in 2022.(Footage by Anadolu Agency via Getty Images)
ANKARA, TURKEY - OCTOBER 05: Turkish President Recep Tayyip Erdogan addresses the crowd during his ruling Justice and Development (AK) Party's 29th Consultation and Assessment meeting in Kizilcahamam district of Turkish capital Ankara on October 05, 2019. Turkey targets a growth rate over 5% or more in coming years, President Recep Tayyip Erdogan said on Saturday.The country also aims to fall the inflation rate below 5% and to lower the unemployment rate under 10% at the end of New Economic Program for 2020-2022, Erdogan told his party members during the ruling Justice and Development (AK) Party's 29th Consultation and Assessment meeting in Kizilcahamam, a retreat town of capital Ankara.Revealed by Treasury and Finance Minister Berat Albayrak at the end of September, the new program unveiled Turkey’s targets for inflation, growth, unemployment, budget deficit, current account, and financial stability.The program targeted the inflation rate of 4.9%, the unemployment rate of 9.8% and the growth rate of 5% for 2022.The inflation rate, which saw the over 25% level in 2018, dropped to 9.26% in September."Interest rates dropped to a reasonable level with appropriate interventions of the Central Bank, I believe that they will drop more," he said.Turkish Central Bank's policy rate -- ranged between 8% and 24% last year -- fell to 16.50% in early September. The next monetary policy meeting for determining interest rates on Oct., 24."We will follow our economic road map in the next four-year period without an election and reach our 2023 targets," he underlined.He noted that Turkey is determined to use sources and saving based budget management efficiently."Turkey will keep the budget-deficit-to-GDP ratio under 3%," he added.The New Economic Program also targeted to keep the budget-deficit-to-GDP ratio at 2.6% in 2022.(Footage by Anadolu Agency via Getty Images)
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Editorial #:
1179173335
Collection:
Anadolu
Date created:
October 05, 2019
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License type:
Rights-ready
Release info:
Not released.ÌýMore information
Clip length:
00:05:36:10
Location:
Ankara, Turkey
Mastered to:
QuickTime 8-bit H.264 HD 1920x1080 25p
Source:
Anadolu Video
Object name:
aa_19541291.mov