Critical forecast regarding interest rate cuts: A message that 'trade with Israel may resume'
DEİK President Nail Olpak drew attention to the effects of high interest rates on the economy and shared suggestions for solutions to export growth and financing problems. Stating that "we have to pull a rabbit out of a hat," Olpak emphasized the need to set realistic targets for exports. Olpak also said that trade with Israel could resume.
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Foreign Economic Relations Board (DEİK) President Nail Olpak met with members of the press to evaluate the Turkish economy and export targets.
Olpak stated that it is not possible to expect economic optimism until interest rates fall to the 20 percent level. Expressing that it seems difficult for interest rates to decline to these levels this year, Olpak emphasized that new steps must be taken in the economy.
''INCREASE IN EXPORTS MAY NOT BE REALISTIC''
Stating that expecting a 10 percent increase in exports is not realistic, Olpak said that the annual target of a 30 billion dollar increase is not sustainable under current conditions. "This cannot be achieved just by talking about increasing the value per kilogram of exports. We must now pull a rabbit out of a hat," he said.
''TRADE WITH ISRAEL MAY RESUME''
Touching on regional developments, Olpak stated that commercial relations with Israel, which were cut off due to Gaza, could resume in the event of a lasting peace, saying, "As the business world, we believe that if the cause disappears, the attitude will also change. If peace becomes permanent, the commercial process with Israel could normalize again," he said.