In a recent address to parliament in Ankara, Turkish President Recep Erdoğan celebrated the nation’s strong economic performance, highlighting a 3.7% year-on-year expansion in the third quarter of 2025. This marks Türkiye’s 21st straight quarter of growth, positioning it as the fourth-fastest-growing economy among OECD countries.
Erdogan highlighted a historic milestone in tourism, with revenues reaching an unprecedented $50 billion over the first nine months of the year—a 1.6% increase in visitor numbers from the prior year. He also noted positive signs in financial stability, including a drop in the country’s credit default swap (CDS) rate to 233 basis points, the lowest in seven years. Inflation cooled further in November, clocking in at 0.87%, while core goods inflation eased to about 18%, bolstering the government’s efforts to tame price pressures.
Strengthening Ties with Africa
The president highlighted Türkiye’s deepening economic links with Africa, where bilateral trade has ballooned from $5 billion two decades ago to $37 billion today. Looking ahead, Erdogan set an ambitious goal of reaching $50 billion in trade volume. Turkish firms have poured $10 billion into investments across the continent and delivered more than 2,000 projects valued at $97 billion. Connectivity is also on the rise, with Turkish Airlines now serving 64 destinations in 41 African nations—one of the most extensive networks there.
Defence Milestone and Diplomatic Spotlight
On the defence front, Erdogan praised a breakthrough test on November 29 of the KIZILELMA unmanned combat aerial vehicle (UCAV). This made it the first such drone to successfully strike an aerial target beyond visual range, granting Türkiye a key edge in air defence capabilities.
Erdogan declared 2026 a pivotal year for Turkish diplomacy, with the country slated to host major global events: the COP31 climate summit, the NATO leaders’ summit, and the 13th Summit of the Organization of Turkic States. These gatherings underscore Türkiye’s growing role on the world stage.
Overall, the updates paint a picture of robust momentum across economic, trade, and strategic fronts, with Erdogan’s government emphasizing sustained recovery and international partnerships to fuel future progress.