Success in Afrin operation will avert risks to Turkish economy: Finance Minister Ağbal

ANKARA

Success in Turkey’s ongoing “Operation Olive Branch” military campaign in Syria’s Afrin district will avert possible risks to the Turkish economy, Finance Minister Naci Ağbal stated on Jan. 24.

“The operation will positively affect expectations for Turkey’s economy in 2018,” Ağbal told state-run Anadolu Agency, stressing that it aimed to address “instabilities and geopolitical strains in Syria.”

He also noted that so far the markets have remained calm “as the operation continues as expected.”

“The markets are calm. Developments in the stock exchange, foreign exchange markets and financial markets indicate stability,” Ağbal said.

He vowed that the country’s strong growth from last year would continue in 2018.

“Although some slowdown is expected in Turkey’s fourth quarter growth outlook for 2017, we have seen that strong growth momentum is continuing. The Turkish economy will keep showing a robust growth outlook in 2018 as well,” Ağbal said, adding that investments are expected to be stronger this year than last year.

“But we will need to keep offering incentives to many sectors in order to support their installed capacities,” Ağbal also said.

An omnibus bill will soon be sent to parliament in an effort to fuel production, he said.

“We immediately want to pass regulations that will foresee incentives to boost production, exports and employment in 2018. We will therefore send an omnibus bill covering these areas by next week,” Ağbal added, also noting that some regulations would also be launched in a bid to push down production costs in Turkey’s ongoing project to build an entirely locally produced car.