Emphasis on Efficient Investment Financing Instead of Subsidies in Energy Costs
Istanbul Chamber of Commerce President Şekib Avdagiç stated that the economic administration should also consider production support alongside tight monetary policy.
Evaluating August inflation data, Istanbul Chamber of Commerce President Şekib Avdagiç called for the financing of efficiency investments instead of providing subsidies for energy costs.
August Inflation Developments
It was announced that consumer inflation in August was 1.84 percent monthly and 31.51 percent annually. Despite the decline in inflation, it was stated that global cost pressures continue.
Call for Efficiency-Focused Investment
It was emphasized that instead of continuously providing subsidies for energy costs, efficiency investments should be supported. It was requested that priority be given to companies contributing to investment, technology, exports, R&D, and employment.
Tight Monetary Policy and Production Support
It was stated that the Central Bank keeps financial conditions tight with a policy interest rate of 37 percent and credit limits. It was noted that the economic administration should focus on preserving production capacity while cooling demand.