Ünüvar's Assessment on Price Stability and Growth
TSKB Chief Economist Burcu Ünüvar emphasized at the Transforming Leadership Summit that price stability cannot be the sole objective of a country.
Industrial Development Bank of Turkey (TSKB) Chief Economist Dr. Burcu Ünüvar stated in her speech at the 5th Transforming Leadership Summit that while a central bank's sole objective can be price stability, it cannot be the sole target of a country. Ünüvar announced that Turkey expects around 3 percent growth and inflation rates of around 30 percent this year.
Global Uncertainties and Call to the Business World
Industrial Development Bank of Turkey Chief Economist Dr. Burcu Ünüvar evaluated the process that the world and Turkish economies are going through at the 5th Transforming Leadership Summit. Stating that risks persist in the world but uncertainties are decreasing, Ünüvar called on the business world not to stay out of the flow and not to wait for crises to pass.
Emphasis on Global Growth and Debt Burden
Stating that the world economy has long remained below the historical growth average of 3.5 percent, Ünüvar expressed that the pie is shrinking. She noted that while central banks are shrinking their balance sheets, artificial intelligence investments and defense spending are increasing financing needs, and high indebtedness is added to this picture.
Expectations for the Turkish Economy
Ünüvar announced that they expect growth of 3 percent or slightly below and inflation of around 30 percent in the Turkish economy this year. She stated that inflation forecasts for the next year are in the band of 26-27 percent.
Price Stability and Industrial Policies
Emphasizing that Turkey should not give up its priority of reducing inflation, Ünüvar said that while a central bank's sole objective can be price stability, a country's sole objective cannot be this. She noted that industrial policies and quality human capital must be urgently brought to the agenda.
Competition with China and Loss of Market Share
Conveying that the TSKB research team examined 96 products sold by Turkey and China to the European Union, Ünüvar reported that Turkey has lost market share against China in more than half of the products.
Investment Trends and Demographic Warning
Stating that there is a shift in foreign direct investments from cheap labor to technology and qualified human resources, Ünüvar warned that Turkey is aging without getting rich and emphasized that approximately 21 million women cannot participate in the labor force.