SATSO President Altuğ's Statement on Economic Crisis and Production System

Speaking at the August Ordinary Assembly Meeting, Sakarya Chamber of Commerce and Industry Chairman of the Board A. Akgün Altuğ stated that they are facing a deep economic crisis, emphasizing that a system has emerged where staying in deposits is rewarded instead of producing.

Economic Crisis and Financing Difficulties

Speaking at the August Ordinary Assembly Meeting of the Sakarya Chamber of Commerce and Industry, Chairman of the Board A. Akgün Altuğ stated that the Turkish economy is going through a serious process and expressed that the business world is facing a deep economic crisis.

Stating that high inflation, rising financing costs, and exchange rate policies strain producers and exporters, Altuğ expressed that it has become difficult to engage in production under these conditions.

Deposit and Investment Preferences

Emphasizing that under current economic conditions, evaluating money in deposits rather than making production and investments has become more attractive, Altuğ said that this situation makes parking money in interest rates more rational than investing.

Altuğ stated that the implemented system has created an incentive mechanism that almost rewards giving up trade and production.

Sakarya Company Establishment Data

Sharing data regarding the Sakarya economy, Altuğ announced that 605 new companies were established in the city in the first seven months of 2026.

He explained that this figure means an increase of approximately 11 percent compared to the same period of last year.

Export and GDP Ranking

Stating that Sakarya's July exports rose to 556.5 million dollars, Altuğ said that the province maintains its position as Turkey's seventh province with the highest exports.

He also conveyed that Sakarya rose from 20th to 15th place in the GDP per capita ranking.