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 İstanbul Gelisim Vocational School - myo@gelisim.edu.tr

Foreign Trade








 High Inflation Makes Access to Finance Difficult




In the statement made by the Minister of Commerce Mehmet Muş at the US-Turkey Business Forum held at the United States Chamber of Commerce, the persistence of high inflation causes aggressive monetary tightening in developed countries, triggering capital outflows from underdeveloped and developing countries and making it difficult to access finance. stated that.
Mehmet Muş said that more than 47 thousand people lost their lives after the earthquake disaster that occurred on 6 February, which destroyed a very wide area covering 11 provinces in the southeast region of Turkey. He said that after this earthquake disaster, Turkey will start rebuilding and it has become more important to have strong economic cooperation and commercial relations with its strong partners such as the United States of America.
Minister of Commerce Mehmet Muş stated that in these difficult times after the earthquake, the United States of America and many countries and international organizations received support and that a significant amount of in-kind and financial aid was organized by the US Chamber of Commerce.
Emphasizing that investments in high-value-added products and services are encouraged in Turkey, and efforts are being made to create a more competitive, stronger, and liberal business environment, it was stated that many US companies hosted their regional headquarters and worked to expand this cooperation.
He stated that today's problems such as rising inflation, climate change, international conflicts, and global epidemics can only be solved by international cooperation, especially the persistence of high inflation causes aggressive monetary tightening in developed countries, which causes capital outflows from developing countries and makes it difficult to access finance.
Source