Economic measures taken should be expanded

Economic measures are continued to be taken to minimize the negative effects of the coronavirus epidemic that affects the entire world. The economic support package announced with the pandemic affecting our country was generally considered as positive by the business community and it was agreed that the support package should be further expanded. Revealing the current demands of the young business world, the survey results also revealed similar data.

90 percent of the respondents consider the measures taken by Turkey on creating resources against possible economic adversities due to pandemic as insufficient, while 95 percent does not consider the implemented legislative amendments as sufficient. 

Young business world demands credit support and grants 
The measures taken and the supports announced in our country focus on postponing the existing liabilities of the business world and granting credit. Business world does not lean towards additional borrowing due to the fact that it is not possible to predict when the pandemic process will end. As an alternative to postponement and credit solutions, the survey results show demand for deleting the liabilities and allocating resources in the form of grants. 

Supports for employees and tradespeople should be increased
Majority of the respondents demand that new incentives should be announced and measures should taken in addition to the measures taken so far for the sustainability of commercial activities. Not collecting the public debts such as taxes and social security premiums during the pandemic period, decreasing the credits and deferred interest rates and increasing the support for employees and tradespeople are among the prominent demands.

The members participating in the survey consider that the state support paid for unemployment should be increased during this period, while they also think that especially small tradespeople who cannot open their workplaces should be protected with rental support and more resources should be allocated to the SMEs. 

Agriculture, tourism, aviation and passenger transportation should be taken into consideration differently.
The agricultural sector is in a critical position in a period where food safety gained importance. The view on increasing the support payments for the agricultural sector and making grant payments before the harvest period is another data revealed by the survey results.  

Especially in sectors such as tourism, aviation and passenger transportation, significant income losses continue to occur. Another view revealed by the survey is that economic measures should be taken quickly for these areas, which are among the leading sectors with impaired cash flows as a result of the cancellations and the complete cut down in demand.

Delays in support applications cause problems in accessing the finance
Highlighting that there are many applications made for public support, but that the responses to support applications are delayed due to the workload and bureaucracy, the survey results reveal the approach that the responses to credit applications are far below the demand and therefore there are difficulties in accessing the new financing opportunities.

Export markets should be opened, sectors should be approached equally in supports
An important source of the problems experienced during the past period is that foreign demand has also been minimized. Therefore, it is very important to remove the isolations abroad and start the import demand again for the improvement. 

Members, who think that all sectors should be included within the scope of “force majeure” regardless of their sector in the supports provided, agree with the opinion that the applications made to the announced support packages should be responded more quickly, and that the support terms and the postponement times should be extended.

GYİAD: We trust our country, and we continue our efforts with all our strength under all 
Evaluating the results of the GYİAD Economic Survey, GYİAD Board President Fuat Pamukçu said: “When we look at the responses of our members to the survey, we see that the majority of the members participating to the survey did not consider the measures taken to create resources against economic disadvantages as sufficient and the legislative changes implemented were considered as insufficient. We also think that the framework of the economic measures taken should be expanded.”

Startup ecosystem should be supported with a separate package
Highlighting that the startup ecosystem should be supported with a separate package during this period, Pamukçu said, “The importance of the startup ecosystem will increase in the coming period, so we think that this ecosystem should be supported with a separate package. In addition to this, public, municipal and zoning departments should continue to work remotely during this period. We closely follow the efforts of our Scientific Board and we trust them. We believe that just like the Scientific Committee, an Agricultural Board should also be established. The construction industry is another area of great importance for our country. We would like to emphasize that this sector may also take its place among the new supports to be announced to enliven the sector.”

Fuat Pamukçu continued, “Turkey should focus on structural reforms in order to obtain advantages in the world to be reshaped after this crisis, and should restructure particularly its law and justice system by making a good use of this period. As we always say, the young population needs to be brought into the economy and youth employment should be increased, and we continue to do our part in this regard. As the young business world, “We trust our country, and we continue our efforts with all our strength under all conditions.”