Saturday , April 17 2021

Executive Director of Shabangui Holding: Economy hit the wall

[Haber görseli]

Business-related concerns about the economy are rising. The senior manager of Sabancı Holding (executive director) Mehmet Gomen said that the steps taken inside will not yield results unless there is an inflow of funds from foreign funds.

Building Material Manufacturers Association (MSAD) Agenda Date Speaking at a meeting of immigrants, "Turkey was clear that the economy ran towards the wall, too late for a short-term solution." We need to focus on the long term.Uzun Other moments include the following:

– The world is heading towards conservatism and populism. Turkey has yet to choose gender. The decisions we make these days will determine our future.

The cost of money has increased a lot. The ratio of the foreign debts of the private sector to the export is 185%. In other words, the private sector owes 85% more foreign currency.

Currency risk is prohibited

– Foreign exchange risk is banned in the last 3 years. If companies inevitably lead to exchange rate risk, we create surplus in the holding, so there is no currency risk in the consolidated balance sheet.

In all sectors, and especially in the building materials sector, what I think needs to be done is consolidation. In the short term it becomes more precise to move in order to create more powers and try to fund them.

– If there are no foreign funds, if you set up Emlak Bank, you will not be able to enter other energy-related assets. A coin is the same that you put in your pocket. And we have the risk of dropping it from one pocket to another.

– The perception that we are free from market rules encourages foreign investors to retreat. Private currency funds do not come when surge arrests are so high.

– There will be no old figures in the construction. The energy sector has a debt of 44 billion dollars.

The reform must

Turkish Industrialists and People's Business Association (TUSIAD) President Simon Kaslowski Turkey, which states that it must implement reforms for a better future, "We need to work with us, not just the public," he said.

Speaking at a conference on current events in international taxation, Kasulovski said it was difficult to reform, but could not go ahead without reform, it would be better to do better. Stressing that the tax system should be transformed into a simplified, understandable and predictable system, Kasulovski said that foresight has become the most important factor in the economy for today's business world. Cossacks, another priority priority of the tax reform, should be the fight against informality.

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