MÜSİAD President Abdurrahman Kaan said, "The Türkiye economy is in a process of rebalancing today. Despite the negative growth expectations at the start of the year, God willing it is moving towards positive growth by the end of the year"

Speaking at the Extraordinary General Assembly meeting of the MÜSİAD Adıyaman Branch, MÜSİAD President Abdurrahman Kaan said that they define the association's journey as a relay race.

Noting that this understanding has played a major role in sustaining the journey that began 30 years ago on such long-standing and solid foundations, Kaan said, "At our Adıyaman branch, which we opened in 2012, we witnessed a changing of the flag. I believe that our brother who has taken office will contribute to the work of the previous term and carry out successful work for our country. I thank Şerif Yıldırım, who has handed over his duty, for his services. I also wish him success in his business life."

Addressing business people, Kaan expressed that they want investments to be made in Adıyaman and the surrounding provinces and that the regional economy be supported in this way.

Stating that a pleasing picture is not encountered when the Adıyaman economy is examined, Kaan continued as follows:

"Adıyaman ranked 55th in the list of provinces with the highest exports in 2018. Exports, which reached USD 542 million in 2015, have been declining in recent years. In 2018, exports to a total of 56 countries fell by nearly 40 percent compared with the previous year, standing at the level of USD 76 million. A similar situation is observed in imports. Total imports fell by 53 percent in 2018 compared with the previous year, declining to the level of USD 42 million. We say, 'it is possible to change this picture.' There is a reality before us, but the compass showing how we will emerge from this process is again in our own hands. We will be bold; we will not be afraid to invest and to diversify our commercial activities."

"Interest Rates Will Have a Positive Impact on Investments"

Expressing that a significant stagnation was experienced in the markets following the exchange rate attacks in August last year, Kaan said that this process was overcome quickly through the correct moves of the economic administration. Noting that the seeds of a brand-new story were thus sown for the Türkiye economy, Kaan said:

"The Türkiye economy is in a process of rebalancing today. Despite the negative growth expectations at the start of the year, God willing it is moving towards positive growth by the end of the year. At the point we have reached, we see that the current account deficit, which was USD 33 billion in the same period of the previous year, has fallen to USD 1.7 billion in the January-July period of this year. In addition, with exports reaching the level of USD 111 billion in the nine months of the year, the ratio of exports covering imports has reached 84 percent. Again in this process, the policy rate has been lowered to 16.5 percent with the rate cut decisions, while the inflation rate has fallen to 9.25 percent as of September. Our economy lost momentum as investments contracted by 23 percent year-on-year in the second quarter of the year, but the interest rates, which we believe will fall to lower levels in the coming period, will have a positive impact on investments. This will halt the contraction and, as of the last quarter of the year, a positive growth process will be entered once again. "

Following his speech, Kaan presented a plaque and various gifts to Sait Göksu, who was elected President of the MÜSİAD Adıyaman Branch.