Interest rate comment from TÜSİAD President: 'By the end of the year...'

The TÜSİAD Digital Turkey Conference was held with the theme 'Disruptive Power in Transforming Competition.' Speaking at the conference, TÜSİAD Board Chairman Orhan Turan addressed the interest rate decisions to be taken by the Central Bank. 

Speaking about the conference, Turan said the following:

COMPANIES MUST INVEST IN TECHNOLOGY

"We feel the competition intensely on a global scale. There is intense competition all over the world. Technology comes to the forefront here. If we do not incorporate technology into any process of our business, we have no chance of competing as Turkey. A company must invest in technology to turn competitive conditions in its favor. SMEs must invest in technology to exist in the future. If we want companies to exist in the future, we must find financing sources for technology and invest. Perhaps we need to shift incentives in Turkey not to everyone, but to companies that will increase their competitive power. We should allocate more resources to companies preparing for the twin transition."

WE MUST NOT COMPROMISE ON REDUCING INFLATION TO SINGLE DIGITS 

Evaluating the economy, Turan said, "Lower interest rates and monetary expansion would positively affect our economy. We must not compromise on the fight against inflation to reduce it to single digits. I think the Central Bank could make a 250 basis point cut in the final months of the year, in November or December, without acting prematurely. I believe we will provide a real interest rate in the October 3 inflation data," he said.

News Source: 12punto