Tuncay Ozilhan, chairman of the Anadolu Group Executive Board and a former head of the Turkish Industrialists' and Businessmen's Association (TUSIAD), cautioned Monday that Türkiye's widening current account deficit threatens long-term economic stability.
Speaking to the Anadolu Agency, Ozilhan said the deficit cannot be sustained by relying on incoming foreign funds, and that a growing imbalance requiring ever-larger capital inflows will eventually create severe difficulties. He described the situation as "a fault line" that must be addressed before it breaks.
He also noted that rising import volumes are a core part of the problem, arguing that many intermediate goods being purchased abroad could and should be produced domestically. He urged the government to adopt a targeted investment policy to stimulate local production of those goods.
Ozilhan identified textiles and tourism as Türkiye's two key economic sectors and called on authorities to engage constructively with industry representatives rather than issuing confrontational statements. He also urged the government to work with civil society organizations without favoritism, particularly in the context of EU accession talks, and to draw on their expertise.
Historical summary. TurkishPress restated this wire report, first published in April 2006, in its own words.