Unfinished and empty housing projects are strewn across the country, testimony to the trouble the construction sector, and the wider economy, now finds itself in. The construction sector has been a driving force of the Turkish economy under the rule of Erdogan, who has overseen growth consistently above the global average since he came to power in 2003. “Three out of four companies seeking bankruptcy protection or bankruptcy are construction companies,” said Alper Duman, associate professor at Izmir University of Economics. – Turkey’s ‘locomotive’ –“Whether we call it a construction bubble or a housing bubble, there is a bubble in Turkey,” he said. “The construction sector is this country’s locomotive sector,” he said.

Source: Egypt Independent January 09, 2019 03:33 UTC