Chamber Warns Of Waste Draining Development Funds

In a written statement, the Chamber said wasteful public finances have brought development resources to the point of depletion, arguing that years of populist and short-term policies have imposed heavy costs on the economy.

It stated that monthly current expenditures have been expanded in an uncontrolled manner while the production economy has been neglected, pushing the country into a financially fragile and unsustainable position.

KTTO said continuous borrowing to cover current payments has become the norm rather than the exception, accusing the government of pursuing short-term fixes instead of addressing structural problems.

The Chamber described the TL 1 billion borrowing from Development Bank resources as “concerning,” stressing that funds intended to support production and encourage investment are being used for personnel expenses and current transfers, which it said is incompatible with sound economic management and public responsibility.

It underlined that the Development Bank is a financing tool for development, warning that using its resources for other purposes effectively mortgages not only the present but also the country’s future.

The statement characterized the current situation as “a public structure that consumes rather than produces, an economy sustained by debt instead of investment, and a fiscal approach that exhausts the future,” stressing that this is not sustainable.

KTTO urged the government once again to refrain from using development resources for current spending, warning that such policies would drive the country into an economic deadlock.

The Chamber added that the country needs transparent and disciplined public finances, a production-oriented economic model, and the proper use of resources, warning that otherwise future generations will bear the cost.