Turkish business world backs govt's economy move

By Gokhan Ergocun

ANKARA

The Turkish business world is offering support for the success of the measures and goals of the government's new economic prospective, two leading business institutions announced on Tuesday.

"We will overcome current financial difficulties in solidarity with our people," said in a joint statement issued by the Turkish Union of Chambers and Commodity Exchanges (TOBB) and the Turkish Industry and Business Association (TUSIAD).

"Preserving the production and employment capacity of the real sector carries the utmost importance," they added.

Stressing that the foundations of the country's economy are solid, they said: "Our economy is facing a delicate period due to global developments and internal dynamics."

To protect the real economy from a lasting impact, necessary measures must be taken promptly, the statement underlined.

The two institutions suggested a number of moves, including tighter monetary policy to stabilize exchange rates, austerity measures, a roadmap to permanently bring down inflation, strengthening relations with Turkey’s most important trade partner the EU, and continuing diplomatic efforts to urgently solve problems with the U.S. under a strategic partnership framework.

They also said: "The business world firmly believes that our economy will quickly return to balanced and sustainable growth through the application of these necessary measures."

Turkey’s new economic prospective was unveiled last week by Treasury and Finance Minister Berat Albayrak.