Thursday , October 21 2021

İSO President Bahçıvan: The measures have contributed to the recovery in the markets



Erdal Bahçıvan, Chairman of the Board of Directors of the Istanbul Chamber of Industry (ISO), was a guest of the Anadolu Agency (AA) financial office.

pointing to the subject of recent events in Turkey, where the gardener is intense political and social life for 2.5 years has passed, he said.

Bahçıvan said that the immunity of the economic structure in that period was falling from time to time and drew attention to the importance of maintaining financial stability.

Gardeners, under the basic problems, financial instability, stating that he said:

"The new economic program now belongs to the Ministry of Treasury and Finance Berat Albayraka We are observing efforts to establish a financial balance from the last two to two and a half months, step by step we see that success in some countries is inflation, some countries are exposed to unemployment. Turkish social life in return, it was very important to sit the absolute balance currency.At presently belongs to the housing, there are positive changes.We must do it for inflation correction.Real hyperinflation is not a luxury of life.

Inflation is the mother-father of all evil. Double-digit inflation must come out of our lives as quickly as possible. If you play in the league of successes, you have to remove inflation from the agenda. Sure, it will take some time, we need some patience. Then the interests must be balanced. At present, the interest rate is returning from the highest level, but it can not be said that it is a competitive interest rate for Turkish industry.

"Tax criticism is far from the realities of the market"

Erdal Bahçıvan, in real life, it is expected that many urgent solutions should be taken, expressing periodic sectoral promotions that would make a major contribution in this process.

Indicating that the expected effect will not be noticed, if the temporary measure is exceeded, Bahçıvan has assessed the support and incentives for some sectors.

Bahçıvan, representatives of the automotive sector in a package that meets all the incentives that they want to achieve, is home mobility, describing Bahçıvan, said:

"Information that we have recently received on the markets of the measures and actions taken as constituting the revival. I do not think that negative consequences until Some exaggerate their environment and speculate. In some quarters, especially in external circles «If Turkey will fall in tax revenues, if not.» If the market is stopped, the SCT is zero by 100 and zero by 100. Here, at least you create at least one type of mobility.

I believe that in terms of public finances there will be no loss of earnings, but due to market mobility, creating a certain tax base, the tax base will contribute to this. Critics are far from market reality. In some sectors, support makes sense, and what needs to be done is what we can call the water of life. I think that through appropriate consultations and diagnoses such activities will bring benefits in the coming period.

"The problem of current account deficit in Turkey is not difficult to solve"

Erdal gardener, referring to the current account deficit of Turkey, the current account surplus obtained in the last two months emphasized the need to read well.

Explaining the need to resolve long-term strategies that will contribute to the current account deficit Turkey gardener, "what counts, it is very obvious that the current race deficit of Turkey. Every day, power generation from domestic sources in energy policy, Turkey will move away from the problem that energy resources in the next 3-5 years. Turkey must also be very clear about which intermediate goods. Indicate also shot by methods to solve the current account deficit problem Turkey do not think it is very difficult. In the direction of investment, the right goals, in the event of the detection of appropriate policies and relevant funding investors, and when we made a smart investment in technology that will identify the main headlines Turkey overrun the current account deficit. "

He said.

Bahçıvan also mentioned the initiatives of İSO for the development of imports of intermediate goods for investment, and the restructuring associated with this restructuring will close important gaps.

Information on the use of domestic products in intermediate goods, which give information about the work of the gardener, for various reasons, the use of domestic products will not seriously use the table, said that they will work solidly.

"We can not continue with banking resources"

Erdal Bahçıvan on interest rates, "These interest rates from leave in Turkey to make new investments, it is impossible to keep it still available. So, with absolute inflation and interest rates, we must bring the makule in line with financial stability. Maybe the interest rate on the treasury falls two points, it's nice, but the banks, resources created Temperature in not very strong hand in the name of lowering interest rates on deposits further because of inflation. Externally, to the desired degree, yet strong, economical flow of funds to ease Turkey is not provided. " He said.

did not provide sufficient depth of capital markets in Turkey, explaining that the address of the bank came to mind, everyone in the use of funds with the gardener, he said, led to the creation of too much demand on the banks of this situation.

Gardeners, trying to satisfy all the needs of real sector banks, said: "This is such a difficult time in such periods, sometimes exceeding the size of the real sector can create an opportunity." He said.

Stating that Turkey is the most important issue of the correct use of the gardener's resources "Our financial sector, our real sector and our policy are in the process in which we must self-criticism." used expressions.

The increase in exchange rates and the subsequent lowering of the assessment of the impact of the industry gardener, said that in the old days vary depending on the current currency problems in Turkey.

The most important factor that distinguishes current currency shortages from the current foreign exchange deficit is a very serious currency obligation in the real sector.

"We should use credit resources more carefully"

When such a burden rests on the real sector, Bahçıvan said that this is the risk of the banking sector on which the real sector depends, negatively affecting the external financing of banks.

Uş We must draw lessons from the past. We have to burden every company so easily. I want to draw it underneath. Even the most important sensitive lesson we need to do about the future is this. The use of foreign currency loans in Turkey should be an incentive instrument. Some basic sectors, issues that will contribute to the current account deficit, every investor who goes to the bank, with the exception of strategically important investments, is a method that is not convenient for us to borrow in foreign currency; we saw inside. Unfortunately, the banks have not been sufficiently disciplined in this regard and I want to say it with sadness. Our real sector could not be disciplined well. This means that some issues require a disciplined and disciplined structure

A gardener, a sector of enterprises that currently has a net currency debt of between 220-230 billion dollars, said: "This debt is in fact not indebtedness, which can not be removed for the economy of Turkey. When you look in today's world than Turkey's debt ratio is still below most cases around the world. But our main problem is that; unfortunately, we are not guilty of our own savings. Turkey in the past from our point of creating our savings, unfortunately, is not a size that can create a problem at the basis of the financial resources required by the growth of Turkey. And, of course, you need to save your friends abroad. Therefore, outside the debt of the foreign private sector finances the source of this debt problem, the main problem in Turkey. We have a much more strategic use of credit-oriented resources to use more strategic solutions, "said Daha.

"I think Turkey can very easily transform those debts"

Erdal, however, pointed out that Turkey can easily transform this debt gardener, he continued:

"I could easily turn on when Turkey's debt stabilized in Turkey and the atmosphere of trust will come, it can return this debt and I think it could take on debt. Because a lot of debt in the world dedicated to Turkey, Turkey is a society consisting no more than a debt quality relationship. What we have announced the moratorium on Turkey we are, which we clearly have our debt. We have a record of our past as Ottoman. We have paid off our debts in the most difficult times. The idea is to manage this debt using a qualified strategy at a qualified price

Industrialists want new regulations in the field of VAT

Erdal Bahçıvan has made the following assessments of the VAT reform:

"VAT has entered our life in the 1980s. Prices have changed over the years, and the burden of financing for production must be reduced as much as possible to the article, even removed from the main catalog." This has become a financial burden. they make production, buy land, invest, VAT is always above. Last year, the largest 500 companies had a tax burden of 7-8 billion TL. There are many negative VAT effects, many of which are unfair competition, one of the main reasons for unregistered VAT. Nile fat Like ura, there are those who want to get VAT for the source of the problem in our lives, and there is a serious occupation and time-consuming VAT issues in the case of work done for the state. summer internships should now undergo rehabilitation and control tests We are discussing this matter in our service, every country must have its own tax model. This form of VAT and the interests of Turkey have doubts about the real meaning of wounds have been brought benefits to entrepreneurship. It must be placed on the table. "

Bahçıvan, who explained that there are suggestions from industrialists about the arrangements that can be made in VAT, "We provide you with income tax on current VAT, on the other you will use a loan of 30 percent and pay VAT to the government without interest and indefinite government. This is worth it. He said.

Gardener, the application remained out of inflation periods, the temporary tax problem should be undermined today.

It is said that Turkey should be an appropriate model for testing a real gardener, she said:

"Implementation of the EU model to take literally Turkey. I can not walk what we see. Member States must also be working on a model that does not lose tax. Our proposal in this direction. We have one more suggestion from KDV. The amount collected from the real sector state will be KDV. In the short run It is not easy to pay in cash, it is believed that it will be transformed into a certain incidence or treasury bills, which should be passed on to companies associated with collateral. I do not know if the fund is called the "VAT Saving Fund", it can be turned into a model, companies can take this paper to banks and get collateral, it is a situation where everyone gains. We believe that we are very happy about this period. We'll get rs. "

"Controversial controversy is not unfair

Bahçıvan, many companies have recently made configuration and agreed to the declared actions.

Expressing that the controversy was not unfair, Bahçıvan finished his words in the following way:

Uygulama Konkordato is an application that took place in a system that will cover the whole world. This is an opportunity for companies that want to breathe if they are applied correctly, but if we misuse them properly, there is an interference between ifrat and tefrit. You can not even turn into speculation. We are pleased that the last requests for concordance have been more closely controlled. We do not think about concordat, but we are worried that after a certain time the demands of a legitimate concordat will lose their value.

Correspondent: Ed Fatma Topçu-Abdulselam Durdak-Murat Birinci

» Anadolu Agency

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