Our priority is to establish a long-term trust in the economy in this environment of health risks and global uncertainty

International Investors Association (YASED) has evaluated the impacts of Coronavirus on the Turkish economy. Emphasizing that the priority is to protect human health and take measures to minimize risks, YASED has said, “It is important to establish a long-term trust in the domestic and international markets with the measures taken regarding the economy”.

International Investors Association (YASED) has evaluated the impacts of Coronavirus Outbreak on the Turkish economy. In a written statement made by YASED, it has been emphasized that this global crisis has once again reminded of our common denominators in the world and the importance of the human factor.

YASED has remarked that the priority in this challenging environment we are going through is to protect human health and take measures to minimize risks. The statement drawing attention to the fact that as Turkey's investors, YASED members have taken many measures in business life so as to protect the human resources of Turkey also covers the following remarks: "YASED has made a considerable contribution to both the implementation of the measures taken by our state in this regard and the studies on the economic impacts of the pandemic. We firmly believe that our country will leave these difficulties behind in unity”.  

 

It is important to establish a long-term trust through the measures taken regarding the economy

While the world is struggling with coronavirus on one hand, studies on the impacts of this global pandemic on the economy are continuing on the other.

The United Nations Conference on Trade and Development Organization's (UNCTAD) report titled "Impact of Coronavirus on Global FDI" estimates a 5-15 percent decline in global FDI  due to coronavirus. Top 5,000 multinational businesses, which make up a significant part of the global FDI, are making revisions of 9 percent in their 2020 earnings forecasts due to coronavirus.

Stating that the coronavirus will bring a significant demand-driven contraction in the global economy, YASED has pointed out that the pandemic is also testing global capabilities in terms of production and supply chains.  Stressing that they are working closely with relevant public institutions on economic measures related to the contraction of demand in the domestic market, YASED has said: "Turkey must successfully implement the crisis management also in industry and position itself as a safe source country. If this achieved, a new area for growth may materialize for Turkey in the post-crisis period where the supply chain will be diversified at global level. All countries across the world are having difficulties in the management of expectations during this period of uncertainties. It is important to establish a long-term trust in the domestic markets as well as international markets through the measures taken regarding the economy”.


With contributions of Vodafone