İTO President Avdagiç: Rates and Interest Must Stay Reasonable

Istanbul Chamber of Commerce President Şekib Avdagiç’s remarks highlight the clarity of the real sector’s expectations for the second half of the year, emphasizing the necessity for rates and currencies to remain at reasonable levels.

Core Policies: ITO’s Game-Changing Stability Stance

■Interest rates should stay at 0.75%, reducing short-term volatility.

■Target the TRY/USD and TRY/EURO bands between 1.25–1.35 for currency stability.

■Expand export support to maintain a competitive trade balance.

■Bring inflation below 8% to boost consumer confidence.

Economic Trajectory: Real Sector’s Rising Expectations

■Unemployment projected to fall from 12.3% to 11.9%.

■Industrial output expected to grow by 4.5%.

■SME loans anticipated to rise 18%, fueling growth.

■Tax breaks for the agricultural sector to expand production capacity.

Trade Tactics: Rules Beneath the Surface

■Foreign trade strategy will be restructured per ITO’s recommendations.

■New legislation will promote the use of financial instruments for currency risk management.

■E-commerce infrastructure will accelerate digitalization of BIST 100 firms.

■Energy sector support will reduce power prices.

Structural Shift: Turkey’s Short-Term Goals

■Efficiency gains through sustainability projects.

■Infrastructure upgrades around Istanbul will boost workforce productivity.

■Digital transformation will refine marketing strategies via consumer behavior analytics.

■Regulatory changes will enhance transparency, strengthening foreign investor confidence.

Markets will recalibrate long‑term growth expectations following Avdagiç’s call for reasonable rates and currencies; the surge in SME lending will accelerate real sector dynamics and reinforce Turkey’s macroeconomic stability.