We will see a gradual decline in inflation | Economic News

We will see a gradual decline in inflation |  Economic News


Vice President Cevdet Yılmaz stated that inflation will gradually decrease on a monthly basis. Stating that they have implemented the necessary policies to balance growth at the macro level, reduce inflation, reduce dependence on imports and ensure a permanent decrease in current accounts, Yılmaz noted that the decline on an annual basis will be evident starting from the middle of the year. Speaking at the ‘Insurance of Industry in Turkey and Solution Suggestions’ program organized by Istanbul Chamber of Industry (ISO), Yılmaz said, “We have an industrial ecosystem that supports our investment, employment, production and export-oriented growth strategy.”

TARGET VALUE ADDED PRODUCTION

Stating that the Turkish economy grew at an average annual rate of 5.4 percent in the 2003-2022 period, and the industrial sector grew at an average annual rate of 6.1 percent in the same period, Cevdet Yılmaz said: “The share of the industrial sector in the national income was 20.1 percent in 2002. In 2022, this rate increased to 26.4 percent. “We aim to ensure the transition to a high value-added production structure in all sectors, especially the manufacturing industry and priority sectors, in the next 5-year period,” he said.

INSURANCE SHOULD BE TRANSFORMED INTO AN ASSURANCE MECHANISM

Pointing out that the rise in the insurance field continues in an environment of political trust and stability, Cevdet Yılmaz said: “Turkey’s insurance sector supports the development of financial markets, growth of the economy and increase in employment in our country by directing the funds accumulated in the economy today to money and capital markets. We believe that the concept of insurance in the industrial sector should be transformed into an assurance mechanism to be used not only in cases where damage and loss occur, but also in all business processes.”

RISK ANALYSIS FOR INDUSTRIAL FACILITIES IN MARMARA

Vice President Cevdet Yılmaz stated that they will complete disaster risk analyzes of critical infrastructures, especially industrial facilities in the Marmara region, under the coordination of development agencies. Yılmaz said, “I believe that the Istanbul Chamber of Industry family will also embrace the issue of insuring the industry in terms of being aware of the risks in industrial production, reducing costs, business continuity and competitive advantage.”

Erdal Bahçıvan.

EARTHQUAKE RISK COEFFICIENTS SHOULD BE RESTRUCTED

Stating that they have been faced with serious problems in the field of insurance regarding risks in recent days, ICI Chairman of the Board of Directors Erdal Bahçıvan said: “Insurance companies, especially in sectors such as chemicals and plastics, often avoid insuring industrial facilities, demand very high premiums or do not want to provide guarantees. We meet. In addition, earthquake risks make the relations between industry and the insurance sector even more challenging. “Earthquake risk coefficients need to be rearranged in an up-to-date and consistent manner according to regions.”



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