Şimşek, Yılmaz ‘Proud’ of Industrial Production and Unemployment in December

Treasury and Finance Minister Mehmet Şimşek made important evaluations regarding the industrial production index and unemployment figures announced today. Minister Şimşek emphasized that the Turkish economy has increased its resilience thanks to the programs implemented in the recent period and said, ‘The Turkish economy is much more resilient and in a much stronger position in terms of macro financial stability today with the gains we have achieved thanks to the programs. This is a concrete result of the policies we have implemented.’

  Stating that the developments in industrial production and the change in unemployment rates show that the economic recovery continues, Şimşek said, ‘Our goal is to support sustainable growth and increase the welfare level of our citizens by increasing employment.’

Unemployment rate declined in December

Turkish Statistical Institute (TurkStat) announced important data on the economy today. According to the data announced by TurkStat, the number of unemployed in Turkey decreased by 39 thousand people to 3 million 26 thousand people. Unemployment rate decreased by 0.1 point to 8.5 per cent. Industrial production increased by 7 percent annually and 5 percent monthly.

Evaluation of the figures by Minister Şimşek

After the announcement of the data, an evaluation came from Minister Şimşek. Making a statement on social media, Şimşek said the following: ‘In 2024, despite the weak course of external demand and the short-term effects of disinflation, our economy continued to produce and create employment. Following the contraction in industrial production in the second and third quarters of last year, there was a strong increase of 3.4 per cent in the last quarter. Thus, industrial production increased by 0.4 per cent throughout the year.

Resilience emphasized

In 2024, employment increased by 984 thousand people annually, while the unemployment rate decreased by 0.7 percentage points to 8.7 per cent, the lowest level since 2012. The Turkish economy is today much more resilient and stronger in terms of macro-financial stability thanks to the gains we have achieved thanks to the program.’

Cevdet Yılmaz also joined the chorus of boasting

Vice President Cevdet Yılmaz also made an assessment on the December industrial production index and labour force statistics announced by the Turkish Statistical Institute. In a statement made on his social media account, Yılmaz said, ‘Our industrial production continues to increase and our unemployment rate continues to decrease. Thanks to our employment-friendly policies, the level of employment is maintained and the unemployment rate continues to decline. The strong recovery observed in industrial production during the economic rebalancing process strengthens our export perspective. Emphasizing that the upward trend in the industrial sector continued with strength, Yılmaz said, ‘While the industrial production index increased by 7 percent annually in December 2024, the monthly increase was 5 percent. The acceleration of the upward trend in industrial production and the continued decline in the unemployment rate reveal the effectiveness of the economic policies we have implemented. On the one hand, inflation rates are declining on an annual basis, while on the other hand, production and export-oriented progress is being achieved. In addition to these developments, our policies envisaging technological transformation in industry, increasing value-added production and exports will bring a permanent improvement in our current account deficit. We will continue our development with a balanced, inclusive and stable growth approach and increase permanent social welfare.’       Source: Ekotürk Translation: Cem Cetinguc