TÜRKONFED 27th Business World Summit addresses economic resilience in Elazığ

The 27th Business World Summit, organized by TÜRKONFED and hosted by FIRATSİFED in Elazığ, brought together government officials and business leaders to discuss economic resilience amid global uncertainty. Vice President Cevdet Yılmaz addressed the summit, outlining Turkey’s economic targets, including a projected 3.7% growth for 2025 and 3.3% for 2026, with a goal of reaching 5% growth by 2029. Yılmaz noted that while regional conflicts have impacted inflation and the current account deficit, the country's macroeconomic foundations remain stable.

Business leaders expressed concerns regarding industrial capacity and competitiveness. TÜRKONFED President Süleyman Sönmez emphasized the need to protect production capacity during the disinflation process, warning against the risks of deindustrialization. TÜSİAD President Ozan Diren highlighted a loss in competitiveness across various sectors, noting that competitiveness depends on more than just exchange rates, including technology, innovation, and energy efficiency.

Other key discussions included the impact of peace on regional development and the need for a special development plan for the Upper Euphrates Basin. Additionally, Koç Holding Chairman Ömer Koç criticized the current international order and the perceived inadequacy of international institutions regarding the humanitarian crisis in Gaza.