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Erdogan pledges to build the century of Trkiye

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President Recep Tayyip Erdogan vowed to build Trkiye century after overcoming inflation problem caused by effect of global developments, Trend reports quoting Daily News.

I hope we will build the century of Trkiye together by overcoming the problem of inflation, which we have been feeling for some time, he said on October 3 during a publicity event for the fundraising strategy document. participatory.

Over the past 8-9 years, some circles have tried to attack Trkiye, including the coup attempt, aimed at making the country unmanageable, he said.

The last bullet of these sneak attacks hit our economy, but an unforeseen situation occurred. Our struggle against the traps set against us has made us stronger. On the other hand, unexpected crises in the world have revealed to us all the weaknesses of those setting these traps, Erdogan said.

Meanwhile, the global economic crisis continues to wreak havoc on the world, constantly causing new problems, and the financial sector is one of the areas most affected by the problems, he said.

But the financial system also has problems, distortions and dead ends beyond that, Erdogan pointed out.

To put it more clearly, the financial system, whose main task is to be the locomotive of economic growth by directing savings towards the right investments, can no longer fulfill this task. At this point, an economic order in which the financial system feeds production and trade has been replaced by an unhealthy and unsustainable structure in which almost all other sectors feed the financial sector, the president said.

He pointed out that the Turkish government is also providing all kinds of support for the new financial architecture, which is an alternative to the existing financial structure that has become unsustainable.

He stressed that the document would contribute significantly to efforts to develop alternative instruments for the financial system, which he noted was at the center of the global crises.

Crowdfunding includes crowdfunding institutions, crowdfunding markets, crowdfunding insurance and social finance, and these instruments have potential for rapid development, growth and enrichment with new derivatives, the president said. Erdoğan.

The government has launched in advance the preparations for the strategy document which the country needs to achieve its goal, he said and added, “The objective of our equity financing strategy document is to build a legal, administrative and corporate infrastructure for financing participation in the 2022-25 period while bringing about a significant transformation of the current structure.

Like all our strategy documents, we have done this work with the participation of a wide range of stakeholders and a detailed preparation process as well, he said.

Stating that changing the name of participatory banks can change the perception, Erdogan said: The perception that participatory financial institutions are no different from banks has taken hold in society.

The name of the equity bank can be changed to equity financial institution and only by changing the name will equity finance and banks be separated in the eyes of society, he added.

Sources

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2/ https://en.trend.az/world/turkey/3652382.html

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