Turkish business groups call for tighter monetary policy, diplomacy

Turkish business groups call for tighter monetary policy, diplomacy

ISTANBUL
Turkish business groups call for tighter monetary policy, diplomacy

Turkey’s leading business groups said on Aug. 14 that tighter monetary policy is needed to stabilise the Turkish Lira and U.S.-Turkish disputes should be solved through diplomacy.

In a joint statement, the Turkish Industry and Business People’s Association (TÜSİAD) and the Turkish Union of Chambers and Commodity Exchanges (TOBB) said a “concrete roadmap should be prepared to lower inflation permanently,” while also calling for austerity measures.

“We believe that our relations with our most important trading partner, the European Union, should be turned back into a positive frame,” the statement said.

“As the business world, we have full confidence that our economy will be balanced again to get back to a sustainable growth process quickly by executing the necessary measures,” it added.

Action plan to support Turkish Lira underway, Turkey's Treasury Minister Albayrak says
Action plan to support Turkish Lira underway, Turkeys Treasury Minister Albayrak says

Tüsiad, TOBB, Turkish economy