Head of Turkish Industry and Business Association (TÜSİAD), Erol Bilecik, has stated in an interview with the Hürriyet newspaper that the “New Economy Program” (NEP) that the Treasury and Finance Minister Berat Albayrak explained had “meet their expectations” and that he “wishes the precaution to save 60 billion Turkish lira will happen without exception”.
Bilecik also stated that “There are local elections in March, there will be elections’ atmosphere in the economy eventually. Our wish is the application of the program without exception”.
Stating that “contact of the business world with Ankara has accelerated”, Bilecik said that the unhealthy credit loans accumulated within the system should be deleted in order to not lock the doors and to clear the credit channels.
Albayrak announced the government's NPE, covering some controversial goals like fiscal discipline, stabilization and transformation, yet the program seems to impose a comprehensive attack on the workers.
Even though the program chapter on inflation shows a decline in real wages, Bilecik had stated that the planned inflation and the struggle with it stated in the program are realistic. Considering the forecasted inflation rate of 15,9% for 2019 instead of the rate that is expected to increase as high as 25% in 2018 indicates to a sharp decline in real wages for the millions of workers.
