Turkish President pledged to continue pursuing export-driven economic growth and inflation-fighting policies, while acknowledging mounting pressure on households and businesses amid persistent economic challenges.
Speaking at an event organized by the (TOBB) in Ankara, Erdoğan praised Türkiye’s business community for supporting economic expansion, earthquake recovery efforts and industrial development.
The Turkish president described TOBB as “the locomotive of Türkiye and our economy,” highlighting its role in post-earthquake reconstruction following the devastating February 2023 earthquakes that killed more than 50,000 people in southern Türkiye.
Erdoğan also pointed to the development of Türkiye’s domestic electric vehicle brand as a symbol of the country’s industrial ambitions, saying Turkish-made vehicles are now visible on roads across several European countries.
Despite global economic uncertainty, regional conflicts and growing protectionism in international trade, Erdoğan said the Turkish economy expanded by 3.6 percent last year.
According to Erdoğan, Türkiye’s economy has reached a national income of $1.6 trillion, while per capita income climbed to $18,000. He added that the country’s total foreign trade volume rose to $820 billion, with goods and services exports approaching $400 billion.
“We will surpass $400 billion in the very near future,” Erdoğan said.
Türkiye has pursued an export-oriented growth strategy in recent years while attempting to stabilize inflation and the national currency after several years of economic turbulence marked by sharp depreciation of the Turkish lira and rising living costs.
The government has gradually shifted toward more orthodox monetary policies since 2023, including aggressive interest-rate hikes by the central bank aimed at curbing inflation and restoring investor confidence.
However, inflation and high consumer prices remain among the biggest domestic political and economic challenges facing Erdoğan’s government.
“We are aware that not everything is rosy. We do not view the economy solely through data,” Erdoğan said, acknowledging frustration among citizens over rising prices and cost-of-living pressures.
The Turkish president accused some businesses of engaging in “opportunism” by increasing prices beyond production and transportation costs, a criticism frequently voiced by government officials during the country’s inflation crisis.
Erdoğan also rejected what he described as pessimistic narratives surrounding the Turkish economy, saying the country would continue to overcome economic obstacles despite domestic and international pressure.
“While we strive to break down the walls of learned helplessness imposed on Türkiye, some constantly put obstacles in our way,” Erdoğan said.
Türkiye remains one of the largest economies in the wider Balkan and Eastern Mediterranean region, with its economic performance closely watched across Southeast Europe, where Turkish investment, trade and tourism play an increasingly important role.