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GRF Panel Meeting on the Economy: "Will the Global Storm Turn Into a Hurricane in Turkey?"

GRF Panel Meeting on the Economy
"Will the Global Storm Turn Into a Hurricane in Turkey?"
September 21, 2022


On September 21, 2022, Prof. Hakan Kara, Former Chief Economist of the Turkish Central Bank; Prof. Fatih Özatay, Former Vice Governor of the Turkish Central Bank; and Dr. Murat Üçer, GlobalSource Partners’ Turkey Country Analyst, addressed GRF and GRF Community members at a panel entitled "Will the Global Storm Turn Into a Hurricane in Turkey?", held in LA Mahzen İzmir, following the GRF Board of Directors meeting. After the opening speeches by GRF President Selim Yenel and GRF Chairwoman Zeynep Bodur Okyay, the panel evaluated Turkey’s current economic outlook from the perspective of national and global market trends, moderated by Tayfun Bayazıt, TÜSİAD High Advisory Board Member and Country Officer of the Marsh McLennan Group.

The panel drew attention to the downward growth trajectory estimates in both developed and developing countries as a reflection of the current global economic slowdown, and stated that while Turkey’s currency-protected deposit scheme, unveiled in 2021, has managed to partially stop panic-buying of foreign currency, it still hasn’t lowered the country’s risk premium. The panelists then discussed which policies should the government prioritize following the election to improve the economy. Following their speeches, the panelists answered the participants’ questions.