29.11.2024 Ankara

The President of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), M. Rifat Hisarcıklıoğlu, evaluated the Gross Domestic Product (GDP) results for the third quarter of this year announced by the Turkish Statistical Institute (TURKSTAT).

Hisarcıklıoğlu made the following statements in his evaluation on his social media account:

“While the Turkish economy grew by 2.1 percent annually in the third quarter of the year, it contracted by 0.2 percent in the third quarter compared to the previous quarter.

There is an annual shrinkage of 2.2 percent in industry. It is possible that the stagnation in the markets will not become permanent by preserving the production, investment, employment and export capacity of our country.

Increasing production costs have a negative impact on our industrial production and export volume. At this point, existing employment supports in all sectors should be preserved, caution should be exercised in steps that will negatively affect the increase in costs and thus the fight against inflation, and production should be prevented from shifting abroad by providing additional support to labor-intensive sectors.

Let’s keep our SMEs, which have difficulties in access to finance, afloat so that they can contribute to the growth of our economy on a stronger and more sustainable basis.

In all decisions to be taken regarding the economy, utmost care must be taken to ensure that the sustainability of economic activities and the global competitiveness of the sectors are not damaged.

It is time for the public and private sectors to work more in coordination with the unity of hands, unity of mind.”