UPDATE - 'Turkey to focus on production, investment, employment, exports'

UPDATES WITH MORE REMARKS BY TURKISH PRESIDENT; MINOR EDITS THROUGHOUT

By Tuba Sahin and Aysu Bicer

ANKARA (AA) - Turkey must concentrate much more on production, investment, employment, and exports, President Recep Tayyip Erdogan said Wednesday.

"There is a new era ahead of us now," said Erdogan, addressing an economic council meeting of the Turkish Union of Chambers and Commodity Exchanges in the capital Ankara.

The government will proceed by maintaining fiscal discipline, with a growth and employment-oriented approach, he stressed.

Noting that financial and price stability are to be simultaneously ensured, Erdogan noted that immediately cutting inflation down to the single-digits would be the government's top priority.

He said Ankara will continue to provide all suitable conditions for both domestic and international investors.

"We will see that our country stands out positively in production, employment, export, and growth," Erdogan noted.

The president underlined that Turkey would end the third quarter with a strong economic growth thanks to leading data for September.

"I believe we'll end the year with positive growth, despite the ongoing challenges due to the coronavirus outbreak," said Erdogan.

Touching on interest rates, he added: "We should not allow ourinvestors to be crushed by high interest rates."

He noted that generating employment, boosting exports, making production and investments are not possible with high interest rates.

"We give great importance to discussing with our business circle on all matters related to the economy," Erdogan said.