TÜSİAD Made a Statement on the New Economy Model

As you know, the dollar and euro, which have been on the rise for the last few years, have reached levels that we would not believe in the last 2 months. As we write this news The dollar is worth 16.42 TL and the euro is worth 18.45 TL. These jumps, which take place in a short time, appear everywhere in daily life, from grocery stores to technology shops. The new prices of the Apple Store and the updated price lists of automotive brands are very worrying.

Today, an important statement has come about the economy model used throughout this process. Turkish Industrialists’ and Businessmen’s Association (TÜSİAD) stated that “a quick return to accepted economic science rules is needed” and “The target set by the model being tested cannot be achieved” expressed.

“Even the exporter who should benefit from the situation suffers”

In the statement that the government’s policy of achieving economic growth by keeping interest rates low and providing export potential with a competitive exchange rate, TÜSİAD used the following statements:

“As a result of the instabilities we have been experiencing recently, it has become clear that the intended results cannot be achieved with the economic program that is being tested. As TÜSİAD, we have repeatedly shared our opinions with both public institutions and the public that the policies formed by early interest rate cuts will create instability, even before this economic framework is drawn and the process continues. We emphasized the risk of this process resulting in severe depreciation in TL, acceleration in inflation, suppression of investments, growth, employment and, most importantly, our impoverishment as a country.As a matter of fact, after the steps taken within the scope of new economic choices an atmosphere of insecurity and instability has arisen.

We see that the demand for foreign currency, especially in the domestic market, has risen sharply, and this has disrupted all existing economic balances. The economic policy followed not only for the business world, but for all our citizens creates new economic problems. In the long term, the risk of causing much larger structural problems has increased. Even our exporters, who are expected to benefit the most, suffer from this environment. As a result of all these, it is clear that it is necessary to determine the damage that has occurred in the economy in the last period and to return to the generally accepted economic science rules, which are supported by all stakeholders, primarily within the framework of free market functioning.

We have already pointed out the problem of ‘deinstitutionalization’ in our country and shared the necessary approach for our development with the public in our study ‘Building the Future with a New Perspective: People, Science, Institutions’. We must implement rule-based policies that will benefit our country’s economy and pave the way for predictability, investment environment and development. The steps to be taken, especially the inclusive and effective strengthening of institutions and rules, are essential for the establishment of an environment of trust in our country. As TÜSİAD, we are taking the right steps in this direction. we are ready to contribute“