MÜSİAD President Mahmut Asmalı commented on the GDP figures for the first quarter of 2022, announced by the Turkish Statistical Institute (TÜİK). President Asmalı made the following statement:

“As we stated at the end of February, when the Turkish economy was announced to have grown by 11 percent in 2021, we continue to believe in our country's economic growth capacity and potential today, just as we did yesterday. The 7.3 percent growth rate for the first quarter of the year demonstrates the validity of our faith in our national economy.

In this period, during which the Eurozone grew by 5.1 percent, China by 4.8 percent, Germany by 3.8 percent, and the US by 3.5 percent, our country ranked third among the G20 countries whose first-quarter growth figures have been announced, behind Saudi Arabia and the UK, and maintained its positive outlook.

Thus, the lingering negative effects of the post-pandemic period on supply chains, the threat of global inflation, particularly through energy and food prices, and the ills of the global ecosystem, which experienced a new shock following Russia's invasion of Ukraine, hinder the Turkish economy from maintaining its strong growth performance. It has not been able to prevent this.

On this occasion, as MÜSİAD, we reiterate our belief that the Turkish economy will grow beyond current forecasts in 2022. The Turkish business community will continue to carry the strength it has gained from the gains of the past 20 years into the future, and our country will quickly overcome all incidental shocks, especially inflation.