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Cooperate or See the Economy Worsen Businessmen Warn

Cooperate or See the Economy Worsen Businessmen Warn

September 01
08:50 2018

The only way out of the economic crisis is for everybody to make sacrifices and creating chaos is a mistake in an environment where crisis exists the chairmen of business organisations have said.

Business organisations have published statements warning that if everyone does not mobilise against the effects of the plummeting Turkish lira, they will face a much bigger crisis, with more dire consequences.

North Cyprus News - Turgay Deniz KTTO ChiefChairman of the Turkish Cypriot Chamber of Commerce (KTTO) Turgay Deniz, expressed the hope that everybody will cooperate to overcome the current crisis. Candan Avunduk, chairman of the Turkish Cypriot Chamber of Industry, expressed support for the economic measures announced by the government. Mahmut Kanber, chairman of the Turkish Cypriot Chamber of Tradesmen and Craftsmen, warned that if the implementation of the governments emergency measures is blocked and a policy of retrenchment is not put in place they will face a more severe crisis in 2019, which will be insurmountable.

Meanwhile Turkish Cypriot daily Kibris Postasi reports that KTTO chairman Turgay Deniz has not been entirely uncritical of the coalition government. He said:

North Cyprus News - TRNC Assembly - interiorWe anticipated and expressed concern that a serious economic downturn will take place during our visit [to the prime minister] in January this year. We would like to present the list of suggestions prepared during this visit to our Prime Minister and other ministers. However, even though we have worked and produced a solution proposal, there has been political opposition. The government should have taken measures and been transparent earlier on and shared them with the public. Today, surprise hikes in diesel fuel and electricity are damaging the people’s confidence in the government.

Pointing out that parliament should be working on the economic problem right now, Deniz said, “We propose that parliament should work this summer on the proposals we provided, this is not the time for vacations. If there is an extraordinary situation now, our parliament should immediately call for and work towards a referendum.

Kibris, Kibris Postasi, LGC News