Various tools are used to evaluate the economies of countries, each with its own tasks. However, the Economic Confidence Index in Turkey remains the driving force behind all economic and investment activities, serving as a cornerstone in the development of the local economy. In light of this, we will explore the trajectory of the Turkish Economic Confidence Index over several years and its significance in fostering the prosperity of all economic sectors in the country.
The Economic Confidence Index is a crucial and pivotal gauge used for analyzing and evaluating the local economic performance. It reflects the confidence level of investors and major companies in the Turkish economy.
The Economic Confidence Index is measured annually through a comprehensive survey of all investment activities in the country. After conducting meticulous statistical studies, the desired results are optimally derived.
The importance of this index lies in its pivotal role in identifying the risks and economic obstacles facing the country currently or expected to occur in the future. As a result, the Confidence Index is instrumental in guiding economic and financial policies in Turkey, aiding the government in making sound and appropriate economic decisions given its current situation. Moreover, it contributes to attracting foreign investments, significantly uplifting the international economy.
Furthermore, the Turkish Economic Confidence Index predicts the future state of the local economy and guides the real estate market and other investment sectors towards the right direction, making the Turkish economy globally robust.
The comprehensive survey results of the Economic Confidence Index in Turkey, conducted this May just a few days ago, revealed a qualitative leap in the index, reaching unprecedented levels since July 2018, approximately five years ago, with the index currently standing at 91.1 points, its highest relative value over the past five years.
This index was announced within a tweet by the Turkish Minister of Treasury and Finance, Mr. Nureddin Nebati, in response to a statement by the Turkish Statistical Institute regarding the monthly Turkish Economic Confidence Index.
The minister commented that the rise in the Turkish Economic Confidence Index coincides with an acceleration in the turnover of the local economy and a rapid and stronger development of the investment sector, noting that the Turkish Economic Confidence Index has continued to rise day after day for long periods, except for its significant decline in March last year following the earthquake that struck the Turkish cities in the east of the country.
Nebati added that the Turkish Confidence Index continued to rise by 4% monthly, reaching 91.1 points this month, its highest value since July 2018.
The Turkish Economic Confidence Index reflects the assessment of consumers and producers and affects the overall economic situation. It is globally recognized that surpassing the value of the Economic Confidence Index to 100 points indicates the prosperity of the country's economy and positive future expectations regarding it. Conversely, a decline in the index below this value indicates the urgent need to enhance the current situation and uplift the local economy.
In this context, a global classification was conducted in 2021, including several major countries, including Turkey. The decisive results came in a report issued by The Economist Intelligence Unit, where the Turkish Economic Confidence Index was ranked 53rd globally.
It is worth noting that the value of the Economic Confidence Index in Turkey during that period was only 48.1 points. Therefore, we can conclude that if this classification were conducted with the latest index value, the Turkish economy would have climbed many ranks.
According to the report issued by The Economist Group, major economic countries have already achieved high rankings, including the United States, Russia, and China. Local and international events can also influence the global economic index ranking.
Skyline Holding group has always excelled in Turkey, leading in all its branches, which vary from educational, touristic, legal, to export, investment, and architectural consulting services, making it the primary destination for every investor aspiring for advancement and excellence in the country.
The company has attached great importance to the quality of services provided in any of its branches spread across the Turkish territories. It has been and continues to be the first company with the broadest services covering all service requirements. It has a long-term vision that elevates the services provided in the country and ensures rapid growth in the local economy thanks to the smart strategic plans it relies on.
In conclusion, these were the main ideas regarding the trajectory, significance, and global ranking of the Turkish Economic Confidence Index. In this article, we also got acquainted with the best holding group in Turkey, which works on meeting all the needs of individuals residing in Turkish territories, providing comprehensive services and easing all life difficulties in Turkey.
Stay always updated with our news.
You can also contact Skyline Holding at any time for our consultations and services.
