TOBB Chief Hisarcıklıoğlu Issues Critical Remarks on Inflation and Credit Access

Turkey's Chambers and Stock Exchange Union (TOBB) President Rifat Hisarcıklıoğlu delivered a forceful briefing at the joint council meeting of the Muğla Chamber of Commerce and Industry, outlining how soaring inflation, rising interest rates, and tightening credit constraints are impacting the business community and detailing the policy measures being taken to mitigate these challenges.

Muğla’s Multi‑Faceted Economic Engine

Hisarcıklıoğlu emphasized that Muğla is far more than a tourism hotspot; it is a powerhouse in agriculture, aquaculture, olive oil production, mining, and yacht manufacturing, contributing substantially to the national economy.

Strategic Response to Inflation and Interest‑Rate Pressures

He noted that the TOBB closely monitors the spill‑over effects of global economic turbulence on the domestic market and reiterated the urgency of accelerating real‑economy‑focused support measures.

Reactivation of KGF‑Guaranteed Loans for SMEs

■13,382 Muğla firms have already accessed KGF‑guaranteed loans.

■The TOBB Nefes Credit program, featuring low interest and long maturities, has been reinstated.

■Credit restrictions were identified as most detrimental to SMEs.

Tourism Support Package: Tax Relief and Financial Incentives

■Accommodation tax reduced from 2% to 1%.

■TL 60 billion of additional financing made available under a Treasury guarantee.

■Monthly wage subsidies of TL 1,270 per employee and a TL 3,500 premium for staff with certified employment contracts were introduced.

Aylin Güneş – Corporate Portfolio Management Strategist: These initiatives are pivotal in easing the pressure of high inflation and tight credit conditions on SMEs while offsetting cost escalations in the tourism sector. The expansion of KGF‑guaranteed lending will improve liquidity flows, strengthen corporate balance sheets, and support long‑term value creation. Investors should factor in these government‑backed credit programs and tax incentives when reassessing sector‑specific risk profiles.