Union of Chambers and Commodity Exchanges of Turkey

We can only navigate the dark virus corridor together

19.03.2020 / Ankara

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu said that the dark virus corridor can only be navigated together, adding that the “Economic Stability Shield” package includes steps on employment and social structure as well as employment and social structure, and that they expect changes in legislation in favor of workers and businesses to come into force as soon as possible.​

Hisarcıklıoğlu answered questions about the Economic Stability Shield package announced by President Recep Tayyip Erdoğan after the Coordination Meeting against Coronavirus held at Çankaya Mansion.

Pointing out that Turkey, which is exemplary in the coronavirus (Covid-19) outbreak, has made important moves in the economy in a timely manner, Hisarcıklıoğlu said, “Our first demand in this process was to see our public administration stand with us. This has happened. In addition to maintaining economic activity, there are also steps related to employment and social structure.

Hisarcıklıoğlu noted that the dark corridor in which we find ourselves because of the virus, the package illuminates the path of the business world and boosts morale, stressing that the situation is dynamic.

Hisarcıklıoğlu underlined that the private sector will continue to communicate its problems and proposals and work towards finding solutions to problems, “We can only navigate the dark virus corridor together by together in consultation. We will get through today together in both good health and economy.”

- “Banks must do their part”

Hisarcıklıoğlu stressed that in this global crisis, which is unprecedented in the history of the world, the state, the nation, the real sector and the financial sector need to work hand in hand and take the lead together.

Hisarcıklıoğlu underlined that they expect banks to support the business world and economic activities by doing their part, “The Turkish business community will continue to move forward while taking precautions. We also expect changes to the legislation in favor of workers and businesses, such as the short work allowance included in the package, to come into force as soon as possible. With the opening of treasury-backed Credit Guarantee Fund (KGF) limits, we anticipate significant liquidity relief in the markets.”

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