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Minister Nebati: Data shows that the foreign exchange earning sector is getting stronger

Treasury and Finance Minister Nureddin Nebati said, “Industrial production data shows that a sector such as industry, which is subject to foreign trade and earns foreign exchange, has gained momentum and gained strength thanks to the Turkish Economy Model.”

Minister of Treasury and Finance Nureddin Nebati stated that the ultimate goal of the Turkish Economy Model is to make growth sustainable, balanced and inclusive and said, “Industrial production data shows that a sector such as industry, which is subject to foreign trade and earns foreign exchange, has gained momentum and gained strength thanks to the Turkish Economy Model.”

Nebati shared on his Twitter account about the industrial production and retail sales indices announced by the Turkish Statistical Institute.

Emphasizing that the ultimate goal of the Turkish Economy Model is to make growth sustainable, balanced and inclusive, Nebati said, “May labor force data announced yesterday showed that the increase in economic activity provided employment and was inclusive. The industrial production data announced today, on the other hand, show that a sector such as industry, which is subject to foreign trade and earns foreign exchange, has gained momentum and gained strength thanks to the Turkish Economy Model.”

Recalling that the calendar-adjusted Industrial Production Index exceeded the market expectations and increased by 9.1% annually in May, Nebati pointed out that the monthly increase in the index was 0.5%.

Pointing out that the retail sales of the real sector showed a strong increase in May, Nebati said, “The retail sales volume index with constant prices increased by 20.8% annually in May 2022. We are resolutely continuing all our efforts to ensure that all these successes we have achieved in our real economy will increasingly continue in the future.”

Source: Trthaber / Translated by Irem Yildiz

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