Istanbul Metropolitan Municipality Mayor Ekrem İmamoğlu drew attention to the crisis in the Turkish economy and the challenges faced by SMEs, stating that the solution to these problems would only be possible with a change in government.
İmamoğlu stated, "Without a change in government, and without rebuilding trust and stability, we have no path forward."
IMM Mayor İmamoğlu addressed the negative effects of high interest rates on tradespeople and producers, emphasizing that non-performing loans in commercial credit have increased by 55%, and uncollectible SME debts have risen by 115%.
He noted that this situation has caused cash flow in the market to stall and has made it difficult for SMEs to find financing.
Ekrem İmamoğlu stated that broad-based unemployment has reached 33% and that the collapse of SMEs is negatively affecting employment.
As a solution, he announced that they would facilitate SMEs' access to credit within the scope of a re-industrialization program and provide support through tax premium incentives. Furthermore, he announced that they would provide support to producers through the SME Agency in areas such as digitalization, integration into supply chains, and providing priority in public procurement.
News Source: 12punto
