“If election promises are not delivered, this will reflect badly on the Turkish economy.”
This is the view of Erol Bilecik, the head of Turkish Industrialists’ and Businessmen’s Association (TÜSİAD), who further analysed that this would affect the economy badly in the middle to long-term periods.
Bilecik said last year was not an easy one for business in Turkey and the negative indicators, economically, are also expected this year.
Speaking at a morning Live show in Turkey’s critical Fox-TV on Wednesday, the TÜSİAD head honcho said: “As for inflation, due to the fluctuation in the ‘foreign exchange’ rates and negative portraits reduced the balance sheets of the banks in Turkey. The real estate sector is also having serious ‘liquidity problems. We should have ‘cautious optimism’ for 2019.”
Seek stability and see positive trends with EU
Touching on Turkey’s association with the European Union (EU), Bilecik argued that two important indicators for comprehensibility in the economy were strong rule-based policies and the other was structural reforms. He said with that, the economy becomes more competitive. He also encouraged a more positive trend with the benefit of being an EU member.
“Most importantly, we should speak stability. An independent judiciary and a lively democracy will also enhance Turkey’s chances economically. The existing polarised political environment should enter the ‘mutual respect and peace’ space,” he said.
Bilecik said: “This polarised structure is the table which we don’t like. We are in favour of preventing this polarised structure. We need a trained human force. We have to extend the ground in which the new generation will be grown up. We need those generations expressing free opinions and their wisdom freely.”
Minimum wage welcome, but not enough
“There is a positive development with the minimum wage. The wage is a huge concern of the Turkish nation. Twenty-six percent increase is looking as proper but when we consider it as an amount 2000 TL ($1=5.43 TL) minimum wage is surely not enough. Since the beginning, we have been concentrating on the taxes which should be reduced to the levels of the Organisation for Economic Cooperation and Development (OECD). We need unity and solidarity. We have a world-renowned brand in Atütürk, the founder of the Republic of Turkey,” he concluded.