Delivering a speech at the Justice and Development Party’s (AK Party) Gaziantep Provincial Advisory Council meeting, Şimşek noted that the Turkish economy has been facing some problems for the last four quarters due to the global financial crisis; however, he added that recovery from the crisis has begun. Industrial production has been on the rise since October, the minister said, adding that November figures were far from reflecting reality since it was influenced by seasonal factors due to the Eid al-Adha (Feast of the Sacrifice) holiday. “Exports will increase again in December and industrial production will continue its upwards move as well as capacity utilization,” he said.
The increase in energy consumption is an indicator of a rise in industrial production, Şimşek stressed, adding that the economy has entered a phrase when employment will be created and production will rise again.
Responding to critics about the government’s performance in the face of the recession, Şimşek stated that Turkey is the only country whose credit rating was raised by two grades during the worst economic crisis in the last 60 years, while 54 other countries saw their credit ratings downgraded. This upgrade could not have happened if the government had been unsuccessful in the face of stagnation, he asserted.
