2013 a year to remember for politics, but not economy: Doğan Holding CEO

ISTANBUL - Anadolu Agency

Doğan Holding CEO Yahya Üzdiyen (C) says 2013 became a year to be remembered politically, but not economically during the CEO Club meeting. AA photo

The year 2013 has made its marks on politics but not on the economy, according to a top Turkish business executive.

“2013 became a year to be remembered politically, but not economically,” Doğan Holding CEO Yahya Üzdiyen said during the CEO Club meeting on Nov. 1.

“I am not sure if we will remember 2012 economically in 10 years, but we will remember it politically,” he said during meeting organized by Capital and Ekonomist magazines, sponsored by Vodafone.

Üzdiyen stated that consecutive growth rates below 4 percent constituted a problem. “You can tolerate one year of this, but the growth rate of below 4 percent for consecutive years is troubling for Turkey. We can see this from the past. However, everything is relative. In this respect, we have to say that we are in a better situation than Europe,” he said.

Üzdiyen pointed out that 2013 had been a good year for Doğan Group, adding that they would complete next year those investments and projects that were planned but unable to be realized in 2013.

Meanwhile, speaking at the same event, Turkey’s Sabanci Holding plans to invest around $2 billion next year, Chief Executive Zafer Kurtul said. Kurtul said the company would continue its investments in energy businesses in 2014.