Turkish economy could recover within two years

We are going through a difficult period economically as a country. The depreciation of the Turkish lira against foreign currencies, inflation and the high cost of living prevent millions of people from accessing even basic life resources. The devastation following the 6 February earthquakes in Kahramanmaras exacerbated already existing economic hardships. The economic cost of demolition is expressed in billions of dollars. In short, it seems that the economic bottleneck in our country will continue for some time. But how soon can the Turkish economy recover? In this regard, former State Minister of Economics prof. Dr. Ishin Celebi made wonderful statements. Celebi said Turkey would need two years for economic recovery. Let’s look at the details together.

Turkey is going through a very difficult economic period.

Prior to the earthquakes in Kahramanmaras, the first item on the agenda in the country was the economic crisis. Millions of citizens woke up every day with the news of rising prices, inflation was constantly rising, and the Turkish lira depreciated against foreign currencies. Unfortunately, today this picture has not changed.

Moreover, one can easily say that the picture has become even more disturbing due to the destruction caused by the earthquake. For these reasons, the state of the Turkish economy is on the agenda of citizens. Former Minister of State for Economics prof. Dr. Ishin Celebi made very remarkable statements on this issue.

What is the cost of earthquakes in Kahramanmaras for the Turkish economy?

Ishin Celebi was among the speakers at the Izmir Economic Congress.

After his speech at the congress, Celebi gave an interview to Independet Turkish. Of course, the interview was in the specialty of the former Minister of Economy. Çelebi, one of those who managed the Turkish economy in the past, made important statements about the current economic situation in Turkey.

According to Celebi, Turkey’s economy can recover in two years

Of course, there are some steps to be taken and some guidelines to be followed in the recovery process, which Celebi said will take two years. According to Celebi, who said that the economic crisis and corruption in Turkey are intertwined, projects should be implemented in the sense of an “invitation to innovation” in the economic sphere. However, Celebi says the February 6 quakes revealed the need to change the milestone.

Ishin Celebi says Turkey urgently needs economic policy

Celebi also explains the foundations on which economic policy should be based. Accordingly, the new economic policy should be prepared as “a set of policies defined and implemented to achieve by the economy such goals as investment, a secure environment, growth, development, employment, price stability and a fair distribution of income.” Again, according to Celebi, one of the main steps to be taken in this direction is the release of a supplementary budget in July.

According to Ishin Chelebi, former State Minister of Economy, the new economic policy should be implemented around 6 main directions. The former minister lists these 6 main headings as follows:

“Ensuring the healthy functioning of democracy, the structure of justice and the principles of the rule of law.” “Developing an efficient economic structure that is productive and competitive.” “In addition to monetary measures to reduce inflation, investments in technology, efficiency, productivity and the creation of competitive conditions in the markets.” “Development of the knowledge economy, digital infrastructure and technological infrastructure”. “Prioritize merit and avoid ideological inflexibility.” “Sustainability, redevelopment and building growth”.

However, according to Celebi, there are other things that need to be implemented to save the Turkish economy.

Chelebi: “Undersecretaries of finance, treasury and strategic planning organizations should be created under the Ministry of Economy”

According to Chelebi, for “economic liberation” a single ministry of economy should be created. In addition, sub-secretariats of finance, treasury and strategic planning organizations should be created in the ministry. In addition, the transformation of the Central Bank into an independent structure is one of the most important factors of economic stability.

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