Confidence in Türkiye's economic stability strengthened after elections, says Erdogan

Turkish President Recep Tayyip Erdogan said Wednesday that confidence in Türkiye's economic stability has strengthened following the country’s May presidential polls.

"We are pleased to observe that confidence in our country's economic stability has strengthened after the elections," the Turkish leader said in his address at an event organized by the Türkiye-US Business Council in New York.

He said Türkiye is focused on establishing a "sustainable growth climate" through policies that prioritize investment, employment, production and exports.

Turning to the nation's medium-term program, President Erdogan said Türkiye aims to "eliminate the factors that increase inflation by applying the tools of fiscal and income policies without compromising economic growth."

On the trade volume between the US and Türkiye, the Turkish leader said the US became the second-largest destination for Turkish exports and the fifth-largest source of imports.

"By the end of 2022, our bilateral trade volume had exceeded $32 billion," he said.

He also said that Türkiye expects the removal of impediments to develop cooperation with the US in the defense industry as soon as possible.