Attracting investors to Turkey's economy

Amid the global shift to renewable energy, countries around the world are rapidly expanding their wind power industries. According to the latest data, China holds a solid lead with an installed wind turbine capacity of 441,895 megawatts.

Turkey s state-owned energy company Botas has signed a new long-term contract with France s TotalEnergies for the supply of 16 cargoes of liquefied natural gas (LNG) per year. The agreement will come into force in 2027 and is designed for 10 years, providing Turkey with an additional 1.6 billion cubic meters of gas annually.

Finance and Treasury Minister Mehmet Simsek said the names of taxpayers with tax arrears and fines of 5 million lira or more will be made public. Those who do not want to be on the list of "tax debtors" will have to pay off their debts by the end of September 2024. Taxpayers from earthquake-hit areas will be excluded from the measure.

Turkey's Federal Statistical Office reported that the country's economy grew by 2.5% in the second quarter of 2024. Significant growth was recorded in the services sector (7.4%) and construction (6.5%).