ASO President Seyit Ardıç Warns Against De-industrialization and De-inflation

Ankara Chamber of Industry President Seyit Ardıç stated in his speech at the ASO August Assembly meeting that the implemented disinflation program must not be allowed to turn into de-industrialization.

Danger of De-industrialization and Difficult Conditions

Ankara Chamber of Industry President Seyit Ardıç stated that industrialists are paying the heaviest price in the fight against inflation. Ardıç expressed that instead of making new investments, industrialists are calculating how to survive under difficult conditions.

Inflation Fight Process and Costs

It was stated that inflation has fallen following the disinflation program carried out within the framework of tight monetary policy. However, it was expressed that the gap between goods inflation and services inflation has widened and this situation negatively affects costs.

Emphasis on Production Stability and Coordination

It was emphasized that production stability must not be lost while price stability is being achieved. It was conveyed that the struggle should not remain limited only to the Central Bank's interest rate policy, but should be supported by public expenditures and tax policies.

Financing Expenses and Loss of Strength in Industry

Mentioning the June industrial data, attention was drawn to the contraction in the manufacturing industry. It was noted that financing expenses consume the majority of operating profits and the investment capacity of the industry is losing strength.