Osman KILIÇ/İSTANBUL
Mehmet N. Erten, Tekfen Holding Deputy Chairman of the Board of Administrators economy He made statements to the DÜNYA Newspaper about his insurance policies, vitality and financing issues. Evaluating the brand new financial system mannequin, Erten mentioned, “A brand new mannequin is being examined because the Turkish Financial system Mannequin. As somebody who believes in standard insurance policies, I feel that this mannequin may have difficulties particularly within the struggle towards inflation and in offering everlasting and sustainable progress and employment. In my view, different positive factors comparable to progress and employment aren’t very sustainable with out inflation falling to sustainable single digits,” he mentioned. Erten mentioned, “I see it as a program that can be troublesome within the medium time period, because the precedence given right here is employment and progress, and inflation is left to the second plan,” and reminded that this program has not been tried anyplace else earlier than. Erten continued as follows: “Hopefully, we are able to obtain each progress, employment and this inflation steadiness over time. However I feel that the brand new program will want some corrections over time…” Expressing that firms, like residents, are combating this new mannequin, Erten mentioned, “I feel we’ve got some shortcomings.”
“Exterior issues had been unhealthy luck for the brand new mannequin”
Stating that as a way to make investments, it’s obligatory to raised predict the place the nation’s home and international demand will go economically, Erten mentioned, “It ought to be predictable. In the meanwhile, I feel that this predictability has been interrupted a bit in Turkey. As a result of the values have dispersed a little bit,” he mentioned. ‘What would be the inflation, what would be the international demand?’ Stating that it’s troublesome to reply such questions, Erten mentioned, “In fact, there are issues that develop outdoors of us, I settle for that as nicely. The recession state of affairs in Europe and energy The problems on our facet have developed outdoors of us, however we’ve got to bear the results. The unhealthy luck of this mannequin was a little bit bit from there. As a result of exports had been prioritized, however such an explosion and value improve in vitality was not anticipated.” Noting that this 12 months’s vitality invoice has exceeded $100 billion, Erten mentioned, “This causes an surprising present account deficit and it’s one thing that hinders the success of the mannequin.”
“Entry to low-cost credit score just isn’t enough for funding resolution”
Stating that entry to low-cost credit score as a single criterion within the enterprise world just isn’t enough for funding selections, Erten mentioned, “At the moment, there’s a drawback in accessing credit score within the banking system. Reasonably, the enterprise neighborhood complains about entry to low-cost credit score. As a result of banks can not foresee, will they be capable of renew the syndications they use? In the event that they renew, at what value will they renew? Subsequently, the maturity construction of loans was additionally very brief. There’s a mortgage, it’s known as this value, however the maturity is 3 months, it’s not attainable to take a position with such a maturity.
Noting that it’s obligatory to enhance predictability right here and that it’s going to take a while, Erten mentioned, “Subsequently, environmental situations should additionally enhance for the mannequin to achieve success. Those that ready this mannequin believed in it, however I shouldn’t have such a robust perception. “I feel their dangers are greater than the chance of attainable success,” he mentioned.
“We’ve to draw the manufacturing that the Europeans can not do”
Emphasizing that Turkey just isn’t an vitality producing nation, Erten mentioned, “We’re much less topic to the vitality disaster that Europe is going through. As a result of we’ve got sure long-term contracts. However we import vitality,” he mentioned. Underlining that they’re supported by subsidization, Erten made the next assertion: “Homes are sponsored extra, trade is sponsored much less, however I’m nonetheless apprehensive that this is not going to convey a long-term aggressive benefit since we shouldn’t have the supply of the enter. What we have to do is to draw the manufacturing that the European can not do, in any other case it’s a long run factor for him to come back and make investments right here and profit from these subsidies.” Erten, who additionally mentioned that he doesn’t suppose that the vitality drawback that Europe will expertise will proceed in the long run, mentioned, “They’re importing pure gasoline from Russia and oil they’ve severely lowered their imports, they’ll create alternate options. They may scale back their dependancy. Then the steadiness can be restored.”
“I imagine we had a profitable tourism season”
Stating that Europeans migrate to a hotter local weather or a local weather with much less vitality drawback so as to not get chilly in winter, Erten mentioned, “This has a constructive influence on our winter tourism and we’ve got had a profitable 12 months. tourism I imagine we did,” he mentioned.
He mentioned that it’s obligatory to extend the export determine
Advising the enterprise world to proceed doing what they know nicely, he mentioned: “We have to favor excessive value-added merchandise and concentrate on these. We nonetheless want to extend the export, which is as much as 1 greenback per head, in order that it turns into an export that contributes to the sources and welfare of the nation.
#inflation #progress #employment #sustainable