BMD/Öcel: The fall in February sales has an earthquake effect

United Brands Association President Sinan Öncel said, “There is an earthquake effect, we consider this situation normal. In the surveys we conducted, we also determined the loss of turnover and visitors as 20 percent; so it’s perfectly normal. Recovery began in March. We anticipate that we will close this gap with holiday shopping and seasonal shopping.”

Önl, who was a guest on Bloomberg HT, said, “When we look at the first quarter’s exports, Turkey’s exports announced the highest first quarter of recent years. There is an export data of 61.6 billion dollars. Despite the low rate, I think this is a success; because the exchange rate effect affects the exporter very negatively. The share of foreigners in total expenditure is 10 percent. Despite the earthquake in February, there was an increase in the number of tourists. We anticipate that we will have a good tourist season in 2023,” he said.

“At this point, the annual CPI rate is 50 percent, the rent increase is 70 percent. The difference of 20 points is clearly returning to us as inflation,” said Öncel.

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