Exporters Hosted Dr. Hafize Gaye Erkan, Governor of the CBRT
TİM Chairman Mustafa Gültepe: We made a general presentation to Hafize Gaye Erkan, Governor of Central Bank of the Republic of Türkiye, on important issues related to our exports. With the approach of our Central Bank, which prioritizes common mind, we had the opportunity to have extensive consultations. It was a very productive meeting for us.
The Governorof the Central Bank of the Republic of Türkiye (CBRT), Dr. Hafize Gaye Erkan, said, "Central banks can contribute to societal welfare by focusing on price stability. This objective also requires closely monitoring the real sector of the economy from the perspective of general equilibrium and sustainability. In this context, the projections, trends, and opinions of our exporters are also important in our evaluations."
The Türkiye Exporters Assembly (TİM) hosted Dr. Hafize Gaye Erkan, the Governor of the Central Bank of the Republic of Turkey (CBRT). During the TİM Sectors Council meeting held with Erkan's participation at the Foreign Trade Complex, mutual evaluations were made and issues considered important for exporters were discussed extensively.
In her speech, CBRT Governor Hafize Gaye Erkan emphasized the importance of price stability for stable and sustainable growth and stated that they are aware of both the difficulties experienced by exporters due to external demand and the strong aspects of the economy. CBRT Governor Erkan, while talking about Turkey's rising potential alongside the transformation in the global economy, said, "Increasing predictability through price stability will be the strongest supporter of you realizing this potential".CBRT Governor Erkan stated that the effect of the policy applied spreads over time, and on the other hand, some positive results have started to be achieved as leading indicators. Erkan said, "While there is a balancing in demand during the transition phase before the disinflation period, we will continue to contribute to ensuring the continuity of production with the right policy designs".
Referring to the November Monetary Policy Committee decision, CBRT Governor Erkan stated that the level of monetary tightness required for the establishment of disinflation has been significantly approached and said, "It is time to switch to the Turkish lira. We see the most direct reflections of this in deposit developments.” Also touching on credit developments, CBRT Governor Erkan said, "We took swift action against the credit flow, which came to a standstill at the end of May, and ensured the restoration of the market mechanism. While the excess in personal loans, which leads to waste and inflation, is eliminated, commercial loans contribute to production capacity by showing continuity."
In this context, explaining practices such as increasing the daily limits of rediscount credits by 10 times, restructuring the scope of Advance Loan with Investment Commitment and allocating a limit of 300 billion TL for 3 years, providing cost advantages, and removing obstacles to access, CBRT Governor Erkan said, "We are evaluating an additional update in rediscount limits within the framework of impact analyses. We will continue to support companies' access to financing and financing conditions for the development of export and investment potential".
TİM CHAIRMAN GÜLTEPE: A POSITIVE CLIMATE WILL CONTRIBUTE TO EXPORT GROWTH
Making a statement after the meeting, TİM Chairman Mustafa Gültepe said that Hafize Gaye Erkan, as the Governor of the Central Bank, closely follows the problems of exporters. Reminding that exporters experienced difficulties in accessing finance for a long time, Gültepe continued as follows:
"Hafize Gaye Erkan made significant improvements in accessing finance for our exporters after becoming the Governor of the Central Bank. Eximbank's loan volume was expanded. The daily volume of rediscount loans was increased by 10 times to 3 billion TL. The discount rate for rediscount loans was fixed last month. There is an economic administration in Ankara that prioritizes production and exports. We consider Central Bank Governor Hafize Gaye Erkan's visit to TİM as an indication of the importance she places on exports and exporters. We hosted her at the TİM Sectors Council Meeting. We made a general presentation on the current problems of exporters and their demands, suggestions, and expectations in line with the target of 375 billion dollars of goods and 200 billion dollars of service exports in 2028. Then, our fellow members of the Sectors Council presented their sector-specific demands and suggestions. It was a very productive meeting for us. Since Hafize Gaye Erkan took office as the Governor of the Central Bank, a very positive climate has emerged with consultation and common sense on every issue. I believe that this climate will also have a positive impact on our exports".