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Türkiye is reviewing financing conditions and possible support measures to improve Turkish manufacturing companies' access to funding, President Recep Tayyip Erdogan said on Saturday, acknowledging concerns from the business community over access to credit.
Speaking at the 39th General Assembly of the Foreign Economic Relations Board (DEIK) in Istanbul, Erdogan said the issue was discussed during Monday's Cabinet meeting and that he had instructed economic officials to carry out a comprehensive assessment.
"We are aware of the difficulties experienced in accessing financing," Erdogan said. "Taking previous experiences into account, we have given the necessary instructions to our economic administration to conduct a comprehensive study."
Erdogan stressed that the government remains committed to supporting businesses despite ongoing global and regional uncertainty. "Our government stands by the real sector with all its means at a time when global and regional crises continue," he noted.
The president argued that Türkiye's economic stability remains one of its key advantages in an increasingly uncertain global environment, adding that the country has maintained uninterrupted growth for 23 consecutive quarters.
"Türkiye's greatest advantage in the current climate of uncertainty in the global economy is the environment of stability and confidence we have established," Erdogan said.
He also expressed confidence that Türkiye would emerge stronger once current economic, commercial and diplomatic challenges ease. "When the cloud of uncertainty surrounding us economically, commercially and diplomatically disperses, Türkiye will be the biggest winner," he added.
The remarks come as businesses, particularly manufacturers and exporters, continue to grapple with tight credit conditions, elevated borrowing costs and stricter macroprudential measures.
Financial conditions tightened further following the Iran war as policymakers moved to contain inflationary pressures and safeguard financial stability. In May, the central bank lowered monthly loan growth limits for SMEs to 4.5% from 5% and reduced the cap for non-SME commercial loans to 2% from 3%.
The weighted average interest rate on Turkish lira-denominated commercial loans remained above 50% in the week ending May 29, according to central bank data.
To ease financing pressures, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), the Credit Guarantee Fund (KGF) and participating banks launched the Nefes (meaning "breath" in Turkish) Credit program in July last year with an initial volume of ₺25 billion ($650 million).
The scheme provided SMEs with more affordable and accessible financing backed by state-supported guarantees, with strong demand later prompting authorities to double the program's size to ₺50 billion.
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