Gov’t failed to meet economic targets: Main opposition CHP

Gov’t failed to meet economic targets: Main opposition CHP

Gov’t failed to meet economic targets: Main opposition CHP

The Justice and Development Party (AKP) government has failed to meet its economic targets, main opposition Republican People’s Party (CHP) spokesperson Faik Öztrak said July 10, a day after the 11th development plan was submitted to parliament.

Öztrak slammed the new development plan, saying it falls short of addressing the needs of Turkey’s economy.

“In 2013, income per capita was $12,480. Now, the development plan says it will be $12,484 in 2023. There is an increase of just $4. For 10 years, we have been spinning our wheels,” Öztrak said at a press conference held at the CHP headquarters in the capital Ankara.

Turkey is in the middle of an economic crisis, according to Öztrak. “The ruling party failed to meet all its targets from economic growth to unemployment and income per capita.”

“The need for a proper plan that will earn everyone’s trust and will expand the horizon is growing every coming day,” he said.

Öztrak also said four international financial institutions, including the World Bank, have been projecting the contraction in Turkey’s economy but “the ruling party is having a hard time comprehending the crisis.”

“The way to decrease the interest rates goes through the decline in risk premiums or inflation,” he added.

Öztrak also said that the new presidential system Turkey switched to last year has caused an economic downturn.

“[President Recep Tayyip] Erdoğan is saying ‘we will reach our 2023 targets’. He is giving false hope. He is pledging half of what he had pledged when he was prime minister in the single-man regime,” he said.

If the “optimistic” economic objectives in the development plan are achieved, Turkey will still rank 17th among the world’s top economies, according to the CHP spokesman.

“National income will be much lower. Our country will no longer be among the top economies of the world,” Öztrak said.

“There is no room for hopelessness. Our country has qualified staff that will be much more beneficial,” he added.

Turkey’s 11th development plan which covers 2019-2023 was submitted to parliament on July 9 following Erdoğan’s approval.

The plan foresees that the country’s gross domestic product will increase to $1.08 trillion in 2023 while the per capital income target is $12,484.