GÜLER: "ROOT CAUSES OF INFLATION MUST BE ELIMINATED"

Eskişehir Chamber of Commerce (ETO) President Metin Güler, in his assessment of the January inflation figures announced by the Turkish Statistical Institute (TÜİK), emphasized the need to end the threat of inflation, as traders are concerned that high inflation could disrupt trade.

Commenting on the inflation rate of 48.69% announced by TÜİK, Güler noted in his written statement that high inflation impacts both trade and investments, reducing the savings of both traders and citizens. He stated that such high inflation rates create uncertainty and pose a risk to citizens as well as to the traders, industrialists, and artisans who drive the economy. Güler added that high inflation also increases the capital needs of traders, industrialists, and artisans, leading small-scale businesses to turn to banks for loans at high-interest rates.

Global Uncertainties Have Also Affected Turkey

ETO President Metin Güler highlighted that COVID-19 effects, global uncertainties, and soaring energy costs have impacted economies worldwide, and Turkey has not been spared. He remarked that everything from loan interest rates to energy costs in the current market conditions places significant strain on traders and industrialists of all scales. Güler stated that all factors causing inflation—including risks or uncertainties—must be evaluated, and inflationary threats must be eliminated.

Traders Should Focus on the Future, Not Their Bills

Güler also addressed the challenges faced by traders, industrialists, and artisans who are forced to focus on daily survival. He noted that an entrepreneur who is preoccupied with paying their electricity bill today cannot focus on creating added value, investing, or employment opportunities for the future. Emphasizing that the inflation problem cannot be resolved with quick fixes, Güler stressed the need to remove underlying causes to relieve the economic pressure.