The Turkish Industrialists’ and Businessmen’s Association (TÜSİAD) made a statement on its official website addressing the AKP government.
In the statement, which said, “As a result of the instability we have been experiencing recently, it has become clear that the desired results cannot be achieved with the economic program that is being tested,” a call was made to “quickly return” to the generally accepted rules of economics.
The following statements were included in the statement made on the website of TÜSİAD:
“As TÜSİAD, we have shared our views many times with both public institutions and the public that the policies formed by early interest rate cuts will create instability, even before this economic framework was drawn and during the process. We emphasized the risk of this process resulting in severe TL depreciation, acceleration in inflation, suppression of investments, growth, employment, and most importantly, our impoverishment as a country.
As a matter of fact, after the steps taken within the scope of new economic preferences, an environment of insecurity and instability has emerged. We see that the demand for foreign currency, especially in the domestic market, has risen sharply, and this has disrupted all existing economic balances.”
