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"THE GOVERNMENT MUST DEFINITELY CONTINUE TO TAKE MEASURES AGAINST THE CRISIS"

The Istanbul Chamber of Industry held its May meeting around the agenda item, "Identifying the Views and Recommendations of Assembly Members on the Current State of the Economy and Their Expectations from the Government Prior to the Board of Directors' Visit to Ankara". Speaking at the meeting, Board Chairman C. Tanıl Küçük drew attention to the fact that industrial production contracted in March by 20.9% following contractions of 21.3% in January and 23.8% in February. Küçük observed that while a contraction of 20.9% would be considered high under normal conditions, in this case it was regarded as the lesser of two evils since it was smaller than the previous month's. Expressing his belief that the downturn in production has bottomed out and the crisis slowing down, Küçük added: "The fact that production in March was up by 13.4% on February strengthens our hopes in this direction. In another small but hopeful development, capacity utilization is up as well. At 66.8% in April, capacity utilization in manufacturing was higher than in the first three months, rising by 2.1 points on the previous month. This upward movement in the rate of capacity utilization in the manufacturing industry can be seen as an indication that the measures the government has taken against the crisis are starting to produce results. It is essential that similar measures embracing all the sectors be continued."

Click here for the full text and the Chairman's previous remarks at the Assembly




 
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