NEWSROOM

The research conducted by the business-oriented radio channel ST Industry Radio and the independent research company AGS Global sheds light on the 2023 agenda of the companies. 43.9% of business people predict that the economy will grow after the election. 41.2% of them say that they will continue to wait cautiously in 2023.

*** This release is originally published in Turkish.

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TURKEY - As another new year comes to an end, the business world has determined its forecasts and strategies for 2023. The research carried out by ST Industry Radio and the independent research company AGS Global shed light on the 2023 agency of the business world in our country. According to the research conducted with 114 company owners and C-level executives from 15 industrial and commercial cities in Turkiye, the economic returns of the Presidential Election are at the top of the agenda of the companies for the new year. Accordingly, while 43.9% of the participants state that the Turkish economy will get better after the election, 4 out of 10 business people say that it could get worse.
 
According to the research of ST Industry Radio and AGS Global, inflation with a share of 78.1% is at the top of the problems waiting for the country's economy in 2023. It is followed by the financial expansion that may arise due to the election economy with 46.5%, and the expected recession danger in Europe with 44.7%. While the growth rates for both the global and Turkish economy are revised one after another by international institutions regarding the possibility of recession, 43% of the participants predict that the country's economy will grow; 27.2% think that it will remain stable.

Currency attacks, domestic contraction and single-digit interest rates can negatively affect the economy

The issues that can shape the Turkish economy are not limited to elections and the danger of recession. 36.8% of business people report that currency attacks and 36% of them report that fluctuations in energy prices can negatively affect the economy. On the other hand, shrinkage in domestic demand with 13.2% and interest rate falling to single digits with 14.9% follow the ranking. Many domestic companies are already starting to take precautions against possible problems and determine their strategies.

41.2% of the business world will continue to wait cautiously

According to the data obtained by ST Industry Radio, which broadcasts 24/7 with a focus on production, investment and export, 41.2% of the business world will continue to wait cautiously in 2023, while it is observed that some of the domestic companies will be on alert for new opportunities. While the rate of those who adopt the introversion - contraction approach remains at 12.3%, the representatives of the business world bring up the continuation of the production, export and employment-oriented approach for the betterment of the Turkish economy.