A new period has begun in Turkey with the referendum that was held on Sunday, April 16 that resulted in a “yes” majority with 51.4 percent of the vote. In this period of new beginnings in Turkey, a new success story that will serve as a source for change and transformation in both the economy and in economic institutions is needed.
Why is a new success story needed in the economy?
There are many reasons for a new success story in the economy. Some of the reasons that a new growth model and success story in the economy is needed are:
For Turkey to become a world power in its economy and to reach greater growth rates than it has currently reached, it needs a new growth and development model.
To turn the country's existing young population into an advantage, to increase this segment's contribution to the economy and to make this contribution continuous.
To reduce the country's unemployment rate and the youth unemployment rate which is inclined to increase.
To change certain production models that Turkey was obliged to follow in the past and to reduce its dependency on certain country groups.
To reduce Turkey's outside dependence on energy and make it easier for it to apply a new energy policy.
To ensure that Turkey, which seeks to become an energy hub due to its geographic advantage, reaches this goal.
To ensure that every region in Turkey that is under its economic potential contributes to the economy and to ensure that this contribution is continuous.
To make it easier for investments to reach all regions of the country; In addition to turning the superiorities the country possesses into an advantage.
For every region to become a different center of attraction by reducing the income inequality between regions.
To make sure that the country's performance in the area of social policies in recent years are continuous and that the steps taken in relation to becoming a social state become more concrete.
For the steps already taken and the steps to be taken in the area of research and development to change the country's production structure and increase the technological structure of goods produced in the country from a low-technological to a high-technological level.
In addition to this, a new economic model and success story is needed to ensure that the goods imported from abroad are produced in the country and to become a country that has a surplus, rather than one that always has external deficit.
To accelerate Turkey's reverse brain drain that has been increasing in parallel with its visibility in global economy in recent times.
To reach a higher income per capita and, as a result, take its place among higher income economies rather than the middle income group which it is currently in.
For the country to start using the potential of direct foreign investment, which it has not been using for other reasons, and to draw in the direct foreign investments it has not been able to get for years.
To reach its goal in the field of finance by claiming a place among the few finance centers and for Istanbul to become a finance hub, especially as an Islamic finance center.
For the country's economy to escape the interest-exchange rate-inflation wheel, which we have become accustomed to, and for an economy in which production is the principal factor.
To stop being the country that international finance institutes and organizations, credit rating agencies and banks take advantage of in terms of high interest income.
For it to become an important actor in this period in which the changing balance of world economic power is changing direction from developed countries to developing countries.
And most importantly, to realize, with the political stability that will be achieved through the presidential government system that Turkey accepted in the referendum, the investments in economy that could not be done or were prevented from being carried out for years and to ensure continuous economic stability.
Hence, Turkey does not have the luxury to waste time.