We welcomed 2021 with positive expectations, but unfortunately, we did not see a positive picture during the year on both the global economy and the national economy. When we add up the rising energy, food and commodity prices, problems in supply chains, logistics costs and raw material problems, the high inflation rates that emerged in 2021 affected the whole world.
As we enter 2022, we can say that the inflationary environment will continue. According to experts, the upward trend in inflation figures may continue all over the world until the end of 2022. Economic reports indicate that the increase in global inflation compared to the previous year may cause some countries to increase interest rates. It seems possible that the trade war between China and the USA and the problems in the supply chain will continue in the new year. Governments that opened their mouths during the pandemic will have to slash and tighten their belts in 2022 in order to improve their financial statements.
Especially since November, excessive volatility in the exchange rate created serious deteriorations in domestic inflation. In an economy where market expectations cannot be met, recovery will not be possible. In order to prevent the deterioration of the domestic economic outlook in 2022 compared to today, the main expectations in the market are revealed by the economy management with strong communication; In order to build confidence and establish price stability, intense work needs to be carried out. From the point of view of consumers and producers, knowing that 2022 will be a challenging year, preparations should be made in that direction.
It is necessary to open a parenthesis for our exporters. They gained the trust of the whole world by not disrupting production during the epidemic period. We see that the successful performance in our exports is reflected in the growth data. The contribution of net exports to growth was 1,2 points in the first quarter, 6,9 points in the second quarter and 6,8 points in the third quarter. We foresee that this contribution will continue in 2022 thanks to our exporters who are accustomed to crises and have strong resilience and agility in the face of the crisis, but in order to achieve this, support mechanisms should be established urgently to meet the increasing working capital needs, especially with exchange rate changes, inflation and minimum wage regulation.
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