It was stated that the Low Exchange Rate-Low Interest Policy Caused a Snowball Growth in the Foreign Trade Deficit

While it was stated that the low exchange rate-low interest policy was not effective in reducing the inflation figures in Turkey, he stated that it prevented exporters from making exports with higher added value. He stated that this situation caused imports to increase much more than exports in terms of value and amount, and caused the foreign trade deficit to grow like a snowball.

In his statements, Eskinazi pointed out that an economic climate in which Turkish exporters could be more competitive should be created and stated that if steps are not taken in this direction, the foreign trade deficit will increase.

It was stated that due to the exchange rate and interest policy implemented in Turkey in recent years, more resources were allocated to imports and according to the foreign trade indexes published by TUIK, Turkey's low exchange rate policy implementation also disrupted the foreign trade balance. While the foreign trade deficit in Turkey was 46 billion dollars in 2021, it was stated that the foreign trade deficit in 2022 was 110 billion dollars.

Indicating that in 2022, although the export products increased by 8% based on value, imports became 24% more expensive, Eskinazi emphasized that the increase in imports was much higher than the increase in exports in terms of both value and quantity, and this situation increased the foreign trade deficit in Turkey.