Turkish Business Groups Signal Optimism

It eases Turkey’s cash flow and decreases the Treasury’s need to borrow." He continued, "The only threat to economic optimism is high interest rates. The only way to make that optimism permanent is to keep them down." Satici emphasized that with a decline in rates, the pressure on the lira would decrease and exports would continue to increase.

Balikesir Chamber of Industry Director and Economic Foreign Relations Council Managing Director Rona Yircali said the IMF decision, the decrease in inflation and interest rates, and the thriving stock exchange were all signs that the government was on the right route. Yircali stated, "We, as business people, are optimistic. However, all these good things haven’t yet reached the masses, and it will take a while. I believe it will take until the autumn." Stating that he expected the decrease in inflation to continue to between 20 and 25 percent by the end of the year, Yircali said, "I believe that the rate reaching 40 percent in the first quarter and then falling was beneficial."