Erdogan: We believe the most difficult period for inflation is over
Erdogan was referring to a reduction in foreign currency exchange requirements for exporters to 30 percent from 40 percent and said the restrictions would take effect from Monday.
President Erdogan, who has always delivered messages about fighting inflation, claimed that the toughest period of inflation has been left behind. He said the de-inflation process has begun, and “our priority is to save the country from the cost of living problem forever. We are implementing monetary, fiscal and income policies in a coordinated manner to curb inflation.”
The key points of Mr. Edouin’s remarks are as follows:
In our culture, talent is a subject of praise. How can our people not be proud of our success, which is manifested in numbers? I would like to thank our 150,000 exporters who deliver products with the stamp “Made in Turkey” all over the world.
I have always been involved in your work. We have kept our doors wide open for you. We have dealt with all your problems individually and tried to find practical solutions to the problems. You worked, and we helped you. You exported, and we made the work easier for you. In every meeting with heads of state and government who visit our country, your demands are on the agenda.
“Those who judge in their ivory towers…”
We have built commercial bridges between our country and the rest of the world through agreements, forums and trade fairs. We have connected this country with you, building it to today’s levels of exports of $36 billion.
What took a week in 2002 can now be exported in a day. There is no state left that doesn’t export. We have enough exporters in 48 states to be in the top 1,000 exporters. Keyboard economists may not realize these things. Ivory tower judges may not understand these things.
“Turkiye must grow by producing”
We look at you, not what others say, and we walk with you. I hope we can continue to build more camaraderie. My close colleagues and I are your advocates.
We do not hesitate to distance ourselves from those who distance themselves from the business world and the real world. Exports are the locomotive of the Turkish economy. Türkiye is a country that must grow by creating jobs through production, not consumption.
I have some good news to share with you today: we have reduced the foreign currency exchange requirement for exporters from 40 percent to 30 percent, effective from Monday.
“We’ll be in trouble if we don’t make the people pay the price, even if we have to pay the price.”
Despite the violent conflict in our region and the devastation caused by the February 6 earthquake, we are weathering the turbulent times that the global economy is experiencing. We have shared with you our mid-term plan and our economic roadmap through the 12th Development Plan.
We did not make any promises to win elections. Those who made false promises on the election stage are now hanging on and looking for ways to divert the attention of the people instead of keeping their promises. We can see that those who pass judgement on rights and laws are writing books on nepotism. We have never resorted to any unethical means in politics. We are in politics to serve the country and the nation. We are concerned that if we pay a price, we will not make the people pay the price.
“We are in the deinflation process.”
Our priority is to save the country from the problem of high cost of living. We will implement harmonious policies to control inflation. The first year of our Economics program was a transitional year and we have successfully completed this period as expected.
We believe that the most difficult period of inflation is over. We are now entering the de-inflation process. In terms of growth, thankfully interest rates are trending positively. Despite the disaster, we recorded a growth of 4.5%. Our national income exceeded $1 trillion for the first time at current prices. The Turkish economy is ranked 17th in the world and 11th in purchasing power. At the end of this process, the Turkish economy will rise to a completely different level. “When we get rid of uncertainty, Türkiye will be the protagonist of this new era.”
