ITO President Avdagiç: The Nefes Credit Should Be a New Support Model

The President of Istanbul Chamber of Commerce (İTO) Şekib Avdagiç, evaluated the current economic expectations of the business world and the general outlook of the Turkish economy in the October Council meeting. Avdagiç stated that the ongoing disinflation process has made significant contributions to the country's economy and that Turkey continues to maintain its economic resilience.

Avdagiç expressed that the slowdown in inflation and the financial stability achieved, along with the partial improvements in the monetary transmission mechanism, are promising developments for the future of the country’s economy. He indicated that this situation signifies that the worst periods in access to financing after the inflation process are behind us. He emphasized that trends in Turkey's industrial production should also be closely monitored.

Arguing that the breath credit applications should transform into an innovative support mechanism under the current circumstances, Avdagiç displayed a determined stance that this model could meet the support needs in the business world. He stated that breath credits should be restructured as a rotational support mechanism, emphasizing the importance of facilitating access to financing for business owners.

In the current economic environment of Turkey, Avdagiç conveyed that, as representatives of the business world, there are not only positive developments but also risk factors that need attention. He expressed that he places great importance on the reflection of developments in the industrial sector on the national economy. At this point, he highlighted the significance of continuously monitoring production volumes in the sector and general economic data, and producing quick solutions when necessary.

Finally, expressing that it is essential to take the necessary steps for the future to achieve a more stable structure along with the current position of the Turkish economy, the İTO President also added that it is crucial for all stakeholders in the business world to act together. Avdagiç's statements further strengthen the relationship between developments in the financial sector and the business world, holding great importance for the sustainability of the economy.