Vice President Yilmaz defends Türkiye’s economic growth with global data

Vice President Cevdet Yilmaz has addressed criticisms suggesting Türkiye was more prosperous in the past, using data from international institutions to refute these claims. According to Yilmaz, Türkiye’s per capita GDP grew by 257% between 2003 and 2023, a notable achievement compared to other countries.

What are the comparative economic growth rates?

• Data-driven rebuttal: Yilmaz argues that claims of Türkiye’s past prosperity are contradicted by international figures showing significant economic growth. He emphasized that Türkiye’s per capita GDP (adjusted for purchasing power parity, or PPP) increased by 257% from 2003 to 2023.
• Comparative growth rates: Türkiye’s GDP growth per capita surpasses several European countries:
  • Poland: 242%
  • Russia: 161%
  • Germany: 110%
  • Netherlands: 105%
  • France: 90%
  • Spain: 88%
  • United Kingdom: 85%
  • Italy: 72%
• Convergence in economic development: Yilmaz explained that this growth is an example of “convergence,” where Türkiye has narrowed the development gap with more established economies over the past two decades.

What is Türkiye’s broader economic strategy?

• Focus on stability and growth: Yilmaz underlined Türkiye’s commitment to economic stability, high-value-added production, and social welfare. He stated, “We are determined to achieve success in combating inflation and promoting growth through high-value production within a framework of political stability.”
• Vision for the future: Emphasizing Türkiye’s progress in reducing disparities and achieving convergence with developed countries, Yilmaz presented the 257% growth as a summary indicator of Türkiye’s success over the past twenty years.