Union of Chambers and Commodity Exchanges of Turkey

TOBB President M. Rifat Hisarcıklıoğlu, indicating the developments, said, “The developments of the recent days are known to all. On top of all this, the Central American Bank has decreased the flow of currency. These two developments have caused fluctuations in the exchange and interest rates of our country.”

Hisarcıklıoğlu, stating that the private sector has a foreign debt volume of 277 billion USD, went on:

“We have a national credit debt of 1 trillion TL in the domestic market. Both the increase in exchange rates and the increase of interest rates to the double digits present significant risk for us. We must conduct enough investments each year to provide employment to 1 million new people each year. In just the first 9 months of this year, we have invested a total of 125 billion TL as the Turkish private sector. With this, we have provided employment to 470,000 people. We must focus on preserving our companies who have made possible this success even more now than previously.”

Pointing out the importance of moving past day to day troubles and continuing to work, Hisarcıklıoğlu said, “Peace, stability and the rule of law have been indispensable for the positive progress of Turkey in the last 10 years. We believe that 2014 will be the year of Turkey.”

The Economy Minister Nihat Zeybekci stated in his speech during the visit that he is of the opinion that the troubles recently afflicting Turkey are the a natural by-product of Turkey’s increasing influence in the region and that these would pass quickly enough.

During his visit to the Minister of Justice Bekir Dozdağı, TOBB President Hisarcıklıoğlu presented him with a compendium of Necip Fazıl’s complete works.