MARKETS ERASED THE TRACES OF JULY 15
Date : 16.07.2017
Source : Türkiye
Translation Method : Summary Translation
Source of Image : AA

A year has passed since the attempted failed coup d’état that the Fetullahist Terrorist Organization (FETO) perpetrated. Fluctuations in the economy and markets have long since disappeared; the stock market exceeded the psychological threshold of 100 miles and the value of the US dollar fell. The entry of foreign investment continues despite the international rating agencies that lower their investment rating for Turkey.

The Measures Taken Have Increased Confidence

Arda Ermut, President of the Turkish Investment Promotion and Support Agency, said that the work undertaken after July 15 and political stability has made Turkey more attractive and drew attention to the fact that 56% of international direct investment in 2016 was observed in the second half of the year.  Ermut said, "While the average of the first seven months was $ 900 million, the average of the last five months was $ 1 billion 162 million. The month of December was the month we attracted the most investment in 2016 with $ 1.9 billion. This figure also has the distinction of being the highest level of gross international direct investment observed during the last 17 months."

The developments in economic indicators are as follows:

On July 15, the BİST 100 index closed at 82 thousand 825 the highest in the last two months, then increased to over 105 thousand points on the last trading day before the anniversary of  July 15.

The value of the dollar which had reached 3.9415 on January 11 fell to 3.4751. Turkish Lira has regained New Year losses against the dollar.

Export numbers which completed the last year with fluctuating numbers, began 2017 with an increase of 17.9%. Exports, which fell by 2.2% in February, continued to grow until May to surpass 77 billion dollars in the first six months of the year.

The Turkish economy, which contracted by 1.8% in the third quarter of 2016, saw a growth of 3.5% in the last quarter of the year. Thus, the economy experienced a growth performance of 2.9% in 2016. The Turkish economy grew by 5% in the first quarter of 2017.

A budget surplus of $ 129 million occurred last year in July despite the coup attempt and the Turkish economy has proved its strong structure even during the most difficult times.