Vice President Cevdet Yılmaz Highlights Turkey’s Economic Progress
Vice President Cevdet Yılmaz made significant statements regarding Turkey’s economic developments.
Yılmaz explained the concept of Purchasing Power Parity (PPP), defining it as the price ratio of a standard basket of goods and services across different countries. He noted that there are three different PPPs defined by the OECD, IMF, and Eurostat. He emphasized that Turkey has successfully continued its convergence process towards developed countries since 2002.
“Back in 2002, our per capita income in terms of OECD-defined PPP was 9,279 dollars, and it has risen to 42,529 dollars in 2023. The convergence rate to the OECD average increased from 35% in 2002 to 72% in 2023,” stated Yılmaz.
Similarly, he pointed out that Turkey’s per capita income in terms of Eurostat-defined PPP increased nearly fourfold from 7,605 euros in 2002 to 27,600 euros in 2023. “The convergence rate to the EU average rose from 38% in 2002 to 73% in 2023,” added Yılmaz.
Yılmaz underscored Turkey’s goal of maintaining its development within stability and surpassing the 100% mark. “The transformations we will achieve during the four-year election-free period will significantly contribute to reaching this goal,” he concluded.
These statements are noteworthy for demonstrating Turkey’s determination towards its economic targets and its position concerning international economic standards.