Chambers union praises Ankara’s economic action plan

ANKARA

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has expressed optimism over the new government’s economic action plan, with its board members visiting Prime Minister Ahmet Davutoğlu after the announcement of the plan on Dec. 10. 

“The business world and investors want to see the future, and that is what we can see in the action plan. So we thanked [the prime minister],” said TOBB chairman Rifat Hisarcıklıoğlu.

“As the foggy weather gets thicker in our region, this road map was very crucial,” Hisarcıklıoğlu added.

He also praised Turkey’s 4 percent growth achieved in the third quarter of 2015, far exceeding the 2.7 percent market expectation. He said this was a particularly notable achievement despite uncertainties in the period between the two general elections and the rise in clashes between the security forces and the outlawed Kurdistan Workers’ Party (PKK). 

Announcing the action plan on Dec. 10, Prime Minister Davutoğlu said the government will raise the minimum wage in Turkey to 1,300 Turkish Liras per month ($446) from the current 1,000 liras ($343).

Ankara will also provide help to employers in adopting the wage hike, with Davutoğlu particularly pledging to reduce the burden on small- and medium-sized enterprises. The minimum wage issue was a hot debate between political parties before the Nov. 1 elections that carried the Justice and Development Party (AKP) back to one-party government. 

“We will launch a project to support young entrepreneurs who propose projects with cash of up to 50,000 liras [$17,250],” Davutoğlu also said, adding that a support scheme for young citizens will also be started, granting interest-free loans of up to 100,000 liras ($34,500).