Inflation is Burning, Economic Policy Should Not Have a Single Target

MÜSİAD EXPO 2026 Introduction Burhan Özdemir, President of MÜSİAD, introduced the upcoming MüSİAD EXPO 2026, scheduled to take place from September 23 to 26, 2026 at the Istanbul Fair Center.
Event Details The exhibition, which began as a biennial event at the 1996 İzmir Fair, is expected to host participants from 114 countries, with more than 50,000 exhibitors, including about 8,000 from abroad.
Medium‑Term Program 2027‑2029 Targets Inflation forecasts for the medium‑term program are set at 28.4% for 2026, 21% for 2027, and 28.4% for 2029.
Growth targets are 3.3% for 2026, 4.2% for 2027, 4.6% for 2028, and 5.0% for 2029.
Özdemir’s Statements “If inflation is reduced to a single target, uncertainty for the market will persist.
The most realistic and rational medium‑term program does not make inflation the sole objective.” He argued that high industrial production and financing rates would not stimulate production, and that in a low‑interest environment, credit is directed toward land and wealth accumulation rather than providing sufficient resources to industry.
Industry Perspectives Erdal Bahçıvan, President of the Istanbul Chamber of Industry, warned of the “early industrialization” effect.
Özdemir added that even if the defense industry grows, its contribution to overall national growth would remain limited, and he called for a “presidential model” approach in the health and food sectors.
Conclusion Focusing solely on inflation is misleading; production must be cooled while tackling inflation, and long‑term investment decisions should be evaluated from a technological transformation perspective.