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Invest in Turkey, says EBRD’s Chakrabarti
With its geographical location, diverse economy and large market, Turkey offers immense opportunities for investors, and the European Bank for Reconstruction and Development (EBRD) has been in the country with a long-term commitment, Suma Chakrabarti, president of the development bank, told Hürriyet.
Chakrabati visited Turkey to mark EBRD’s 10 years of work in the country and met with Treasury and Finance Minister Berat Albayrak.
“Ten years is just a start of a story. We are not only here when it is fine but we are here all the way through,” he said, adding that Turkey is the largest portfolio for the EBRD, and 97 percent of it is private sector.
Turkish inflation drops to single digits after 26 months
Turkey saw an annual hike of 9.26 percent in consumer prices in September, data from the Turkish Statistics Institute (TÜİK) showed on Oct. 3.
The annual inflation rate went down 5.75 percentage points from 15.01 percent in August.
TÜİK data revealed that the figure dropped to single digits for the first time since July 2017.
“We have made a remarkable progress in the fight against inflation,” Finance and Treasury Minister Berat Albayrak commented on the latest inflation figures.
Investment in technology key for Turkey's transformation
A meeting of international decision-makers agreed Turkey should invest more in technology to instigate a transformation, vice president of the Istanbul Finance Summit (IFS) told Anadolu Agency.
“The summit mainly addressed technology, and our main focus was transformation which is also the main theme of new economic program announced on Sept. 30,” Dilek Koçak Tozlu said.