Bahçıvan said: “Maybe we are used to such a topic in Turkey, but while many countries in the world have erased inflation from their memory and history, living with inflation has re-entered the agenda of world economies. It is not possible to think of Turkey apart from these conditions. If you ask me what is the most important problem of 2022 for our country, I will say ‘inflation’. In other words, inflation in the world, inflation in Turkey,” he said.

‘INFLATIONARY GROWTH IS NOT SUSTAINABLE’

Bahçıvan continued as follows:

“It is not easy to say that in the final of 2022 there will be growth as magnificent and impressive as in 2021. Especially when we look at the characteristics of growth and where the growth occurs, we will see it even more clearly in the coming months.

We emphasize on every occasion that inflationary growth cannot be qualified and sustainable. We must win this fight in 2023. Because we cannot give up the valuable gains we have achieved in the last 20 years, even if the cost is low growth. Because the vision of high inflation and high growth is not for the benefit of our country, we should never accept it,” he said.

‘2023 WILL BE AN ELECTION YEAR’

Bahçıvan pointed out that one cannot ignore the fact that the electoral economy will be implemented in the first half of 2023 and then there will be an election-oriented year, and that it is necessary to see what kind of economic model will proceed after the election to make a prediction.

‘QUALITY OF GROWTH IS MORE IMPORTANT THAN QUANTITY’

Emphasizing that in the 100th anniversary of the Republic, more importance should be given to the quality of growth than the quantity of growth, Bahçıvan said:

“Because when you position it as just numerical growth, maybe it means something in terms of a short-term score. But when we look at that score, we stray away from the long-term value and quality build that it should get us. Industrial growth must be considered on the basis of quality.

In other words, if we’re talking about quality there, I’m saying that the foundation of that quality growth must be growth fueled by the industry. That is why I say that the main dimension that will satisfy and motivate us in the growth of Turkey in 2023 and beyond is and should be the participation of the industry in the center of quality growth.

Of course, it must be underlined that the share of technology investments in the industry, which will be qualified for us, must increase. In fact, it is that sharing that will make us happy, that will make us excited for the future. Therefore, I think it is not very correct to present a picture with growth figures only or growth figures that will not gain anything due to short-term tides.

‘THE TABLE DOES NOT CHANGE IN EXPORTS WITH LOSS OF VALUE’

Bahçıvan stated that when real exchange rate indices are examined, the Turkish lira is in a large depreciation at current exchange rates, saying:

“We must not expect that an expectation and a point of view about the constant loss of the value of the LT will lead us to a very different picture in exports. Instead, we must keep inflation low to achieve a competitive economy.

Beyond that, we must make a competitive, high-tech oriented model of production dominate our economy. Otherwise, we should see that this business will get us nowhere in the long run, with a view that always feeds on devaluations and derives its competitive power from devaluation.

I believe that such an expectation should be broken and removed.” (AA)