New term starts in Turkey’s parliament… Erdogan: Decline in inflation will soon be felt in the market

President Recep Tayyip Erdoğan addressed several important issues during his speech at the opening of the 28th Term 3rd Legislative Year of the Turkish Grand National Assembly (TBMM). Erdoğan called for a new constitution and made extensive remarks on inflation control and economic developments. He also criticized Israel’s actions in the region in terms of foreign policy. Here is a detailed summary of his speech:

 28th Term 3rd Legislative Year of the TBMM

Erdoğan began his speech by commemorating the founder of the Republic, Mustafa Kemal Atatürk, and the martyrs, marking the start of the 28th Term 3rd Legislative Year. He noted that the TBMM had been highly active during the first two legislative years and expressed his belief that the parliament would continue its dedication in the new term.

 Call for a New Constitution

Erdoğan emphasized that the current 1982 Constitution was a product of a military coup era and that Turkey now needed a more civilian, liberal, and inclusive constitution. He stated that the new constitution should represent all segments of society. Furthermore, Erdoğan mentioned that the AK Party and the People’s Alliance had been working on preparations for a new constitution but remained open to all opinions and ideas. He underlined that the new constitution should unite rather than divide, be liberating rather than restrictive, and focus on commonalities rather than differences.

 Fight Against Inflation and Economic Outlook

In his comments on inflation, Erdoğan predicted that the downward trend in inflation would continue in the coming months and that citizens would soon feel this improvement in markets, stores, and their kitchens. He highlighted that food inflation had turned negative for the first time in four years on a monthly basis.

Regarding the broader economy, Erdoğan stated that Turkey no longer had a Central Bank reserve issue, with reserves reaching $156 billion. He added that the current account deficit had been brought to a sustainable level, exports had reached record levels, and tourism in 2023 had closed with record visitor numbers and revenue. Additionally, 1.1 million new jobs were created, and the country’s GDP had surpassed $1.119 trillion. He also mentioned that Turkey’s credit rating had been raised by three international agencies.

 Justice System

Erdoğan also addressed the justice system, emphasizing that justice is the foundation of both the state and society. He stressed the need for a more effective judiciary in punishing criminals and warned that when justice is not properly implemented, innocent people can suffer. He called on the TBMM to focus more on issues related to criminal punishment and rehabilitation during the new legislative term to meet the rising demands of the public.

 Strong Criticism of Israel

Erdoğan harshly criticized Israel’s attacks in Gaza and Lebanon, accusing Israel of provoking chaos in the region. He lamented the loss of thousands of lives in Gaza, especially children, and expressed disappointment over the lack of sufficient global response to Israel’s actions. Drawing a historical comparison, Erdoğan likened Israeli Prime Minister Netanyahu to Hitler and stated that just as Hitler was stopped, Netanyahu would also eventually be halted.

 General Assessment

In conclusion, Erdoğan highlighted Turkey’s significant progress in economic growth, job creation, and international achievements, stressing that citizens would feel these improvements more in the coming months. He also reiterated his high expectations for the new legislative period of the TBMM, particularly regarding constitutional reforms and justice system improvements.