Turkey Statistical Institute (TUIK), in the second quarter of this year (April-June) for gross domestic product (GDP) has announced the results. Accordingly, the GDP estimate increased by 5.2 percent in the second quarter of this year compared to the same quarter last year, as a chain volume index. According to the production method, GDP forecast with current prices has increased by 20.4 percent compared to the same period of the previous year and realized as 884 billion 4 million 260 liras in the second quarter of this year. When the activities of the GDP are examined, the total value added of the agriculture sector declined by 1.5 percent in the second quarter of 2018 as a chain-volume index compared to the same period last year. The total value added of the industrial sector increased by 4.3 percent and the total value added of the construction sector increased by 0.8 percent. The added value of the services sector, which is comprised of trade, transport, accommodation and food service activities, increased by 8 percent.
Household final consumption expenditures increased by 6.3 percent in the second quarter of 2018, as a chain index volume index based on the same quarter of last year. The final consumption expenditure of the State increased by 7.2 percent and the gross fixed capital formation increased by 3.9 percent. Exports of goods and services increased by 4.5 percent in the chain volume index and 0.3 percent in imports in the second quarter of 2018, according to the same quarter of 2017.
Independent Industrialists' and Businessmen's Association (MUSIAD) President Abdurrahman Kaan, while the cause of the economic crisis in Turkey, "the foreign exchange deficit", he said.
"Today's crisis is the main reason for foreign exchange deficit in Turkey. There was a growth based on Borca. We declare that we will develop interest-free models in the statements we made as MÜSİAD" Abdurrahman Kaan said:
We talked about our projects that will completely remove the load that the interest is causing. Now it's time to explain them. Some of our projects that have passed some misconceptions are those that will contribute to the economy such as venture capital fund, agricultural investment fund, real estate investment fund, cooperative finance system. These are my interest-free models," he said.