Construction Products Manufacturers Federation held its 13th Ordinary General Assembly meeting for 2016. Speaking at the general meeting, important representatives of the sector predicted that the growth in the Turkish economy this year will be predominantly driven by domestic demand, referring to the risks awaiting the world in 2017.
The 13th Ordinary General Assembly Meeting of the Federation of Building Products Manufacturers in 2016 was held. The heads of the sector-leading unions have shared important information in their discussions at the board. The Chairman of the Board of Directors M. Şefik Tüzün, who made the opening speech of the Board, stated that the year 2016 is a year when ambiguity and pessimism prevail all over the world and in Turkey, and that the secular stagnation thesis in the global economy is busy on the agenda during the year. Only the construction sector grew.
In terms of sectoral assessment, according to the growth data, Tüzün noted that among the main sectors in the third quarter of 2016, only the real sector registered a real increase in the construction sector. Tüzün recalled that the 9 month growth rate in the construction sector, which achieved a positive recovery in the first half of 2016, was measured as 7.4 percent.
Tüzün stated that the public investment and urban transformation process will continue to grow in the construction sector in 2017. “After the interest rate cuts by the banks during the past period, there has been a significant increase in the house sales and the housing sales in the total of the year 2016 have exceeded 4%.” said.