Kadooğlu: “Sustainability of Growth Causes Competitiveness of SME’s”

Growth data reached a 5 percent figure in the first quarter of the year, which favored the business world. Tarkan Kadooglu, Chairman of the Turkish Confederation of Business and Industry (TÜRKONFED), reminded that the country's economy once again showed its resistance, "The number of growths that have surprise the market significantly has created a great satisfaction with the business people and has increased the prospects for the next turn, Turkey has confirmed that the economy shrank in the third quarter of 2016 and that the economy is in a recovery period. "

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Kadooglu stated that the measures taken by the government in the short term in the form of economy, water and water helped to stimulate the economy and said:

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"The tax cuts helped the SMEs to get back to the credit pool with the help of the Credit Guarantee Fund, helping the economy to start spinning in this challenging period, with 3.1 per cent growth in private consumption spending and 3.1 per cent in public spending, The contribution of investment spending to growth is limited to 0.7 percent, indicating that it is a good time to make structural changes in the growth sustainability of the economy, especially shrinking machinery and equipment investments. It also points out that it has to be opened immediately "

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Kadooğlu reminded that the high growth rate of the Turkish economy is important to invest in technology and competitive production models that can be part of the global supply chains, especially in terms of the quality of the workforce, which will increase the value added of SMEs in order to be sustainable. Kadooğlu continued as follows: "TURKONFED The structural steps to strengthen the institutional structure that will increase the productivity of the business and the capital will increase in the transition from the value added economy to the "Medium Income Trap", as it does not lose importance after the "First Quarter", and the economy will start to breathe again and we will start to work to take long- is showing"

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    yasemin Written by:

    Yasemin Kılıç yaseminkilic@istanbulinvestments.com

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