Economy success story being damaged: Top Turkish bosses

Turkey's economic success story has been deteriorating for a while and the country needs to change this atmosphere by means of comprehensive reforms in various fields, said the head of the country's top business organization at a conference over the inflation trends in the Turkish economy.

"A number of new refreshing institutions, modern rules and an improving investment environment, all of which played a great role in writing the success story, have recently been replaced by negative conditions which challenge the success story. The EU membership target is now vague and the rule of law is weakening. A slower structural-making process is now the case," TÜS?AD President Cansen Ba?aran Symes said at the conference organized by Koç University and the TÜS?AD Economic Researches Forum on April 10. 

She said a much more positive atmosphere needed to be built across the country.

"Economic performance, democratic standards, institutions and the rule of law are all a part of the whole structure. Many recent studies have shown there is a strong relationship between a strong democracy and economic development. According to these studies, stronger democracies fuel economic growth by means of several tools, including inclusive economic reforms, the spread of an educational system of high quality, a developed heath system, an improved investment environment and the establishment of social peace? We need to maintain all of them," she said.

She noted Turkey had achieved this before.

"We need to revive the EU membership agenda and create a positive atmosphere within the country by refreshing good policies and practices in line with a comprehensive reform initiative. All of us need this," she said.

Symes said Turkey's economic...