FDI inflows to Turkey is expected to reach USD 13bn this year if the political tension eases after the local elections, head of Investment Support and Promotion Agency, Ilker Ayci, said.
FDI inflows may increase, if the elections show that Turkey’s stability is not threatened, according to Ayci.
FDI inflows that help finance Turkey’s large current account (CA) deficit, amounted to USD 12.87bn last year when the CA shortfall stood at USD 65bn. Finance/banking, insurance, energy and manufacturing were the top industries that attracted FDI last year, Ayci said, adding that greenfield investments rose by 8% y/y to USD 9.5bn. FDI inflows increased 51% y/y to USD 1.21bn in January, according to data of the Central Bank of Turkey.
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