Erdogan addresses nation on economic progress and diplomatic efforts

Turkish President Recep Tayyip Erdogan delivered a wide-ranging address to the nation on Tuesday, following a cabinet meeting at the Presidential Complex in Ankara. The speech touched on economic developments, foreign policy, and domestic issues.

Erdogan emphasized Türkiye’s openness to investments that add value to the country’s economy, stating, “Our doors are wide open to all kinds of investments that will provide added value to our country’s economy. As long as there is a win-win approach.”

The president highlighted recent diplomatic efforts, including his participation in the Shanghai Cooperation Organization Summit in Kazakhstan. He noted productive discussions with Russian President Vladimir Putin and Chinese President Xi Jinping, expressing a desire to expand cooperation in areas such as trade, tourism, transportation, and direct investments.

Addressing the ongoing conflict in Gaza, Erdogan reiterated Türkiye’s stance against Israel’s actions, stating that the country would not approve any initiatives for cooperation with Israel within NATO until lasting peace is established in Palestine.

On the economic front, Erdogan reported positive developments, including a record high in the Central Bank’s gross reserves, which exceeded $148 billion. He also noted improvements in employment figures, with the unemployment rate decreasing by 1.1 points to 8.4% compared to the previous year.

The president acknowledged the challenges of high living costs faced by some segments of society but assured that the government is aware of these difficulties. He stated, “We have never been a government that turns a deaf ear to the street, the marketplace, the bazaar, and we never will be.”

Erdogan expressed confidence in the government’s economic program, saying, “From last month, inflation has started to cool down. God willing, this process will accelerate in the coming months. We will reduce inflation to the levels we targeted by the end of the year.”

The speech also touched on domestic issues, including ongoing reconstruction efforts in areas affected by the February 2023 earthquakes. Erdogan promised that by the end of 2025, all earthquake victims would be housed.