Speaking yesterday at the 5th Competition Congress, organized by the TÜSİAD-Sabancı University Competition Forum (REF) and the Federation of Industrial Associations (SEDEFED), Yalçındağ said TÜSİAD estimates see the Turkish economy shrinking by 6 percent.Speaking on how Turkey can grow faster than its competitors, Yalçındağ, who is also the co-president of the REF board, noted the importance of increasing efficiency in production and strengthening competitiveness.
Making mention of economic policies enacted during the economic crisis, Yalçındağ reminded everyone of their transient nature. “In 2010, the entire world will have to tighten its fiscal and monetary belts. It will be difficult to reach high growth rates in this environment. To ease this process, it is important to make the necessary micro structural reforms now so that we are better fit for an economy without large government support.”
During her speech, Yalçındağ said that in order to achieve sustainable growth in the post-crisis period, Turkey needs to double its total factor productivity. Otherwise, she said, “It will not be possible to achieve fast growth rates or protect our competitiveness.”
