The economy cannot tolerate uncertainty.

Türkiye As the polls go to the polls for the presidential elections on Sunday for the second time, the eyes and ears of the markets will be on the results of the polls and the messages that will be given regarding the economic policies of the new government. Although the current monetary policy followed by the public to control the exchange rate and market interest adversely affects business life, the interest rates in the market have reached their peak in the last 20 years. As double currency, double interest, difficult credit conditions increasingly threaten the financial system, economists draw attention to the fact that uncertainty in the post-election roadmap must be removed as soon as possible. Stating that the government is only focused on winning in the second round, Bahçeşehir University faculty member Assoc. Dr. Hakkı Öztürk said that they only tried to prevent the dollar from rising further in economic terms, and that they avoided it because too much talking and making statements about the current economic situation could mean “acknowledging that there is an atmosphere of panic.”

THEY CHOOSE TO REMAIN SILENT

Öztürk noted that apart from President Tayyip Erdoğan’s repetition of the statement that ‘we will continue to lower interest rates’, there were no statements from the economic leadership to guide the markets. Economist Prof. Dr. Burak Arzova, on the other hand, stated that it is not possible for the government to continue with the current policies after the elections, and that he expects a radical change in economic policies and said: “It is not possible to get out of the Deposit Protected Currency (KKM) immediately, but since the system is not sustainable, there will be a gradual exit from existing policies. That is why they chose to remain silent during this process.”

Confidence in the markets needs to be restored.

Emphasizing the need to restore market confidence to attract foreign investors, experts argue that President Erdogan’s unconventional economic model, which relies on interest rate cuts to support growth despite strict exchange rate controls and inflation, is unsustainable. Economists point out that without an orthodox policy change, all measures to support the lira and loans are limited in scope.

Nation Alliance ‘cadres and policies’ are clear

Assoc.. Dr. Hakkı Öztürk said: “The problem and the uncertainty here is that if Erdogan continues, it is not clear what kind of economic management it will be and who the names will be. Although it is said that the new economic model will continue, all the experts are aware that it cannot be sustained. Therefore, there is serious uncertainty about what economic policies will look like. On the other hand, if Kemal Kılıçdaroğlu, the Nation Alliance’s presidential candidate, wins, the economic personnel and economic policies he will implement are largely determined.