Istanbul Chamber of Commerce President Şekib Avdagiç Warns on Inflation and Industrial Policy
Istanbul Chamber of Commerce President Şekib Avdagiç emphasized that industrial production should not be suppressed during the inflation-fighting process and addressed financing issues.
Istanbul Chamber of Commerce President Şekib Avdagiç stated that there should be no dilemma between policies to reduce inflation and suppressing industry.
The Inflation Fight Process
ICOC President Şekib Avdagiç emphasized that they agree on the goal of reducing inflation to single digits.
He drew attention to the importance of avoiding policies that would negatively affect production capacity.
Contribution of the Business World
He reminded that the business world has paid a heavy price in the inflation-fighting policies implemented over the last three years and has made significant contributions throughout the process.
Access to Finance and SMEs
Stating that SMEs' access to finance should be facilitated, Avdagiç demanded a transition to a selective financing model for investment and production-oriented activities.
Credit and Payment Chain
It was requested that restrictions on credit and commercial credit card limits be moved to reasonable points in a way that positively affects the value and payment chain in the market.
Targets and External Factors
Pointing out that Turkey has fallen slightly short of its inflation targets this year, it was stated that certain steps were postponed due to the war in the Gulf.
Expectations for Interest Rate Policies
Touching upon the Central Bank's interest rate policies and the downward trend in food inflation, the expectation for interest rate cuts to be reflected in all loan interest rates was conveyed.