The public and private sectors can work together to combat inflation
08.10.2018 / Ankara- TOBB President M. Rifat Hisarcıklıoğlu stated that the public and the private sector could work together to combat inflation, “We find it important and support the Inflation Prevention Program prepared by the Treasury and Finance Ministry and the fact that Minister Berat Albayrak is focused on maintaining fiscal discipline and ensuring price stability.”
Hisarcıklıoğlu’s statement is as follows:
“Price stability is one of the most important strength indicators in macroeconomics. After 2002, Turkey has achieved financial and political stability alongside a remarkable improvement in price stability, ensuring a decrase in inflation numbers to single-digits.
Due to the extraordinary circumstances experienced in exchange rates in the recent period, inflation rates have increased to double digits.
Increased inflation affects our companies, both due to lower purchasing power, increased input costs and interest rates.
For the brisk and stable growth which is the primary issue for our country, real sector should be able to engage in production with realistic, sustainable costs compatible with global competition.
We find it important and support the Inflation Prevention Program prepared by the Treasury and Finance Ministry and the fact that Minister Berat Albayrak is focused on maintaining fiscal discipline and ensuring price stability.
As the Turkish private sector, we are ready to engage in national solidarity, to stand with our government and to do our part.
The fight against inflation means tackling unemployment, high interest rates and increasing input costs.
Neither the public nor the private sectors can win the fight against inflation alone. Responsibility and duty belongs to us all.
We believe that we can overcome this challenging period through strong coordination and consultation between the public and the private sectors.”