Recep Tayyip Erdoğan: ''The Source of the Shortage in Bank Loans is Not Our Policy''

President Recep Tayyip Erdoğan made statements at the Overseas Contracting Services Success Award Ceremony. Erdoğan said, "The source of the problem in bank loans is not our policy. The problem stemmed from the temporary difference in approach between the financial sector and the real sector."

Noting that the source of the problem in bank loans is not the policies implemented, President Recep Tayyip Erdoğan made the following statements in his speech: "I believe that this will turn into a comprehensive compromise that will support production and employment-oriented growth. The size of international contracting services is expected to reach 750 billion dollars in the 2030s. Together, we should aim to increase our country's share of this huge pie to 10 percent, i.e. 75 billion dollars in the first place.'' Underlining that the recent bank credit problems are not an economic program, but a temporary difference in approach between the financial sector and the real sector, President Erdoğan said, "I believe that this will turn into a comprehensive compromise that will support production and employment-oriented growth. No matter in which area you compare our country with Europe and the world, our side of the scale is heavier. Well, the economic and social consequences of 9 percent inflation in them are not the same as the effects of inflation in us. You will put this on the table once. We have limited the social effects of inflation by compensating the loss of income of our citizens from all walks of life, from workers to civil servants, with wage increases above inflation.