Özgür Karabat: Economic Policies Slowed Down Industry

NEW Party Istanbul Deputy Özgür Karabat announced that the implemented economic program has failed to reduce inflation and has led to a serious slowdown in industry by suppressing production.

Inflation Targets Exceeded

Although the year-end inflation target for 2026 was set at 16 percent in the Medium-Term Program announced last year, annual inflation reached the level of 31.51 percent as of August.

CPI increased by 22.07 percent in the January-August period, and the targets set for the entire year were exceeded in just the first eight months.

Growth and Industrial Data

The Turkish economy recorded a growth of only 2.3 percent in the second quarter of 2026, and industrial production declined by 0.3 percent in July compared to the same period of last year.

High financing costs are among the primary factors making it difficult for producers to invest and increase their capacity.

Import and Competition Pressure

It was stated that high interest rates and the real appreciation of the Turkish lira have made imports attractive, while weakening the competitive power of domestic producers.

It was expressed that industrialists experience major difficulties in accessing the financing they need to invest and keep their factories afloat.