TİM President Gültepe's statement on "interest rates": The country is sinking.

```html

Mustafa Gültepe, President of the Turkish Exporters Assembly (TİM), answered questions from journalists in Antalya, where the foreign trade figures for October were announced. Gültepe made a striking statement, saying that no results can be expected in investment and employment with a 50% interest rate.

"THE COUNTRY IS SINKING, WE CANNOT STAY AFLOAT WITH A 50% INTEREST RATE"

TİM President Gültepe stated, "We have been continuing with a 50% interest rate for about 6-7 months. I think this needs to slow down now. There is no chance for a country to increase its investment and employment with a 50% interest rate. The country is sinking, and there is no chance for a country to stay afloat with a 50% interest rate."

"WHEN YOU FIX INFLATION AND LOWER INTEREST RATES, INDUSTRY MAY LOSE A LOT OF POWER"

Gültepe continued his remarks as follows: Otherwise, when we start to fix inflation and lower interest rates, the industry may have already lost a lot of power. It is important to make this decision without losing that power. I believe that the Central Bank of the Republic of Turkey (TCMB) will make decisions regarding this in the coming periods. In my opinion, a small interest rate cut movement could be made in December, before the start of 2025."

"WE SHOULD NOT ONLY THINK IN TERMS OF MINIMUM WAGE INCREASE"

While answering a question about the minimum wage increase, Mustafa Gültepe stated that this is not a topic that should be evaluated by focusing solely on the minimum wage. Gültepe said, "Since we started 2024, our competitiveness has decreased. Turkey has become an expensive country in both production and consumption. We can achieve the balance not only by increasing the minimum wage but also by creating a blend that includes monetary policy and economic policies. Both the employees and our companies belong to us. A figure that can maintain competitiveness in Turkey needs to be established. Initially, we need to fight against price increases together and expose those who sell products at exorbitant prices."