President Erdogan announces 3.7% annual growth for Türkiye in Q3

President Recep Tayyip Erdogan has announced that the Turkish economy expanded by 3.7% on an annual basis in the third quarter of 2025, extending its growth streak to 21 consecutive quarters. Addressing the parliament in Ankara on Wednesday, Erdogan stated that this performance positioned Türkiye as the fourth fastest-growing economy among OECD member countries. He also pointed to positive indicators in tourism, inflation, and international risk perception.

Positive Economic Indicators Across Sectors

Erdogan highlighted several key achievements: tourism revenue for the first nine months of the year reached a historic $50 billion, with visitor numbers up 1.6%. The country's credit default swap (CDS) premium, a key measure of investment risk, fell to 233 basis points, its lowest level in seven years. November's monthly inflation rate was reported at 0.87%, with a continuing decline in core goods and services inflation.

Expanding Footprint in Africa and Diplomatic Agenda

The President detailed Türkiye's deepening engagement with the African continent, where bilateral trade has surged from $5 billion to $37 billion over two decades, with a $50 billion target set. Turkish direct investments have reached $10 billion, and companies have undertaken projects worth $97 billion. Turkish Airlines now serves 64 destinations across 41 African nations. Erdogan also outlined a busy 2026 diplomatic calendar, with Türkiye set to host the COP31 climate conference, a NATO summit, and a summit of the Organization of Turkic States.

Technological Milestone and Strategic Outlook

Erdogan referenced the recent successful test of the indigenous KIZILELMA unmanned combat aerial vehicle, which achieved a world-first by striking a target with a beyond-visual-range air-to-air missile. He framed this as granting Türkiye a "strategic advantage in air defense," linking technological prowess to broader national economic resilience and geopolitical standing.