MÜSİAD President Mahmut Asmalı shared the business world’s expectations regarding the new-term economic policies. President Asmalı said, "We have full confidence that Türkiye will be able to advance towards its long-term goals with more assured steps and in a sustainable manner".

President Asmalı’s statement is as follows:

"Having successfully left behind yet another election process as of 28 May, Türkiye has once again demonstrated how vibrant and strong a democratic infrastructure it possesses. Within this framework, the new Council of Ministers announced by our President Mr. Recep Tayyip Erdoğan on 3 June has also reinforced the sense of confidence in Türkiye’s future. Now is the time to focus on Türkiye’s priority issues. Without doubt, the economy stands at the very top of the list of priority issues.

The next 5 years are extremely critical, as this will be a period in which the economic understanding and policies that will shape the "Century of Türkiye" are determined. While Türkiye continues on the one hand to adopt long-term policies on its path to becoming one of the world’s 10 largest economies, on the other hand it is faced with the obligation to solve chronic economic problems such as inflation and the current account deficit.

Economic needs, problems and conditions at both the national and the global level have changed very rapidly in recent years. Over the past five years, issues such as trade wars, the coronavirus pandemic and the Russia-Ukraine War have had a shattering impact on every corner and every variable of the economic structure, from supply chains to energy markets, from global trade to international transport, and from economic growth to inflation. During the same period, the exchange rate turbulence, the earthquake disaster and the election processes we experienced domestically have also been decisive for economic activities and variables in Türkiye.

In an environment where economic conditions and priorities change so suddenly, it must be accepted as a natural process that economic policies display flexibility in line with the spirit of the times.

As MÜSİAD, Türkiye’s largest and most widespread business world organization, we believe that it would be a reasonable approach to begin the new 5-year period ahead with a policy set that, without compromising the gains achieved in the long-term areas of the economy such as industrial production, exports and employment, will combat in a planned and coordinated manner the problems threatening macroeconomic stability such as inflation and the current account deficit, that includes measures to increase savings both in the public and in the private sector, and that will make our country more attractive for foreign investors.

In this process, we expect that, while remaining faithful to the long-term goals of the Turkish economy, policies that will provide solutions to urgent economic problems will be implemented in a determined and gradual manner. In this context, we are of the opinion that it would not be correct to perceive this need for change in economic policies as a rapid change of lane. We have full confidence that successful results will be achieved for the economy provided that change and continuity are addressed and blended as a whole.

Our past experience clearly shows that establishing a sustainable and lasting environment of economic prosperity is possible not with day-to-day policies but with long-term ones. At this point, the expectations of the markets should follow a moderate course, and there should be confidence in and patience with the new economic administration. Within the scope of the visit we paid a few days ago, together with our Board Members, to our Minister of Treasury and Finance Mr. Mehmet Şimşek, we also had the opportunity to convey our expectations and wishes regarding the new period.

On this occasion, as MÜSİAD, we reiterate our confidence in and support for the new economic administration formed under the leadership of our esteemed President, and we express that we have full confidence that, following the re-establishment of macroeconomic stability, Türkiye will be able to advance towards its long-term goals with more assured steps and in a sustainable manner."