Turkish President Recep Tayyip Erdogan recently announced an ambitious plan to make the country the tenth largest economy in the world by engaging in major investments that would boost the gross domestic product (GDP).
“…We’ve turned towards bigger investments in bigger projects,” he said in his video message during the inauguration of a bridge in the Malatya province.
He also said Turkey is realising more than half of all global megaprojects by itself and the country is planning to support ventures in space technology and artificial intelligence.
“With the courage we derive from our strong infrastructure, we constantly raise our targets in every field, enhance our capacities, and, especially, expand new production areas,” Erdogan was quoted as saying by Turkish media reports.
The economy reportedly shrank around 10 per cent year on year in the second quarter, when the first wave of COVID-19 hit, but it managed to swing back to growth from July through September. Economists expect it to narrowly avoid a contraction for 2020 as a whole.