TUSIAD YIK President Tuncay OZILHAN: “If this goes on, exports will not be possible”

Speaking at the TUSIAD High Advisory Council meeting, TUSIAD YIK President Tuncay Özilhan said, “Difficulties in accessing credit negatively affect production, if this goes on, exports will not be possible.”

TUSIAD (Turkish Businessmen and Industrialists Asssociation) held its second High Advisory Council meeting of the year in Ankara. The highlights of the statements of TUSIAD High Advisory Council Chairman Tuncay Özilhan, who made the opening speech of the meeting, were as follows:

“According to many organizations that have announced their 2030 forecasts, we will be able to grow by a maximum of 3 percent next year.

Current account deficit financing continues to be the soft underbelly of our economy.

Despite the high depreciation of the TL, we continue to maintain an external deficit.

Foreign capital is not coming, what is coming is coming for real estate.

There is no basis for capital inflow from abroad in an environment where the gap between interest rate and inflation is opened more than ever.

We do not know what the financing conditions of the current account deficit will be in the coming months.

If we have problems in financing the current account deficit, we will have difficulty in imports.

If we cannot solve the currency problem, we cannot reduce inflation.

The top priority of economic management should be to reduce inflation.

Difficulties in accessing credit negatively affect production, if this goes on, exports will not be possible.

The market economy approach is the best approach we have, despite its weak points.

Long and intensive intervention in market functioning triggers disruption.

Going outside the free market is never limited to a single area, it has a chain effect.”

Translated and edited from post on below source
www.ekonomim.com/ekonomi/ozilhan-boyle-giderse-ihracat-yapilamayacak-haberi-676905