With the changing of the economic paradigm and the transition to the implementation phase of the new generation policies, the reform agenda in economic policies is among the issues that we carefully follow, as well as the change in the monetary policy perspective. In this context, We will be following the reform package to be announced by President Mr. Recep Tayyip Erdoğan, next week.
Moody's this week, stated that, earning the trust in the currency of changing policy framework, the pause of decline in foreign exchange reserves, ensuring the renewal of the cessation of capital inflows can be positive credit factors. In the framework of the policy perspective adopted recently, we think that the coordination effect of fiscal policies is important.
Of course, it is important to include structural steps that support the transformation in the economy within the reform package. It will be important to include topics that will make capital flows and direct investments to the country permanent, contribute to the economic stability, ensure a growth that will bring sustainable prosperity and development, and solve chronic inflation problems, and a fair tax reform that spreads to the base, along with a comprehensive roadmap, will be important.
What we need to understand for the policies of the Central Bank is that the problems that exist alone cannot be expected to be solved with the monetary policy, it should also be contributed by economic and non-economic policies.
Special policies should be implemented to solve the problems caused by food inflation and input costs in production. In terms of food inflation; Ensuring the continuity of agricultural production and indigenization is critical. Especially in areas such as seed, spraying, fertilization, cold chain, storage and transportation, the dependence on exchange rates should be minimized. The development of the producer-to-consumer model and the development of the fight against brokerage are again at an important point. In our country, the problems arising from food inflation are not only related to the supply affected by seasonal or climatic conditions, but also to the elements of structural fragility.
In terms of industrial production; energy conversion programs and import substitution in inputs should be addressed. It should be adapted to renewable energy sources and green economy followed by the whole world. In order to decrease the use of fossil fuels, similar to the policies followed by the world, tax incentives for electric vehicles should be made widespread in the next few years. In addition to our newly discovered energy resources such as natural gas reserves, energy policies that will reduce our current account deficit should be emphasized with renewable and environmentally friendly energy sources such as wind and solar energy.
Reforms that will provide transformation in economy; Of course, it should be supported by elements such as education, law, personal rights and freedoms and the continuity of a democratic structure that will contribute to our human capital and positively affect investments in our country.
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