Politics, Economy

Turkish vice president introduces 11th development plan

Plan to be roadmap to improve country's position in international arena, enhance welfare, says Fuat Oktay

Muhammet Emin Avundukluoglu   | 09.07.2019
Turkish vice president introduces 11th development plan

ANKARA

Turkey's 11th development plan will be a roadmap to improve the country's position in the international arena and enhance its welfare, the country's vice president said on Tuesday.

Speaking to the Turkish parliament's Planning and Budget Commission, Fuat Oktay introduced the development plan to the commission members.

Oktay noted that the development plan foresees "change and transformation in every area."

He said the plan would fulfill Turkey's "basic values and expectations" by realizing its development vision.

According to the plan, Turkey aims to increase gross domestic product to $1.08 trillion by 2023, the centenary of the Turkish Republic, with a per-capita income goal at $12,484.

Under an economic program announced last September, Turkey aims to reach $226.6 billion in exports under the plan as well as single-digit inflation figures, marking a growth rate objective of 2.3% for 2019, 3.5% for next year, and 5% for 2021.

Oktay underlined that the government embraced the principles of the rule of law, powerful democracy and rights and liberties as a "carrier column" of the plan.

"We will attach importance to our energy and development policies during the period of the development plan," Oktay said.

He added: "Our main aim will be to provide energy with continuous, qualified, sustainable, secure and bearable costs. Within this scope, it will be focused on seismic oil and gas detection and drilling activities in the sea," referring to Turkey's ongoing drilling efforts in the Eastern Mediterranean.

Turkey has consistently contested the Greek Cypriot administration’s unilateral drilling in the Eastern Mediterranean, asserting that Turkish Cypriots also have rights to the resources in the region and that Ankara has the right to conduct hydrocarbon drilling.

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