Tuncay Ozilhan, the Chairman of the Executive Board of Anadolu Group, said that many in Turkey’s business community were concerned at the burgeoning current account deficit.

“When the fault line breaks, there will be major damage. There is a benefit in resolving it before to much energy is gathered there,” Ozilhan said.

Ozilhan said that the deficit could not sustained incoming finance. Everyone should be making an efforts to try and rein in the current account deficit to a certain level, he said.

There was an increase in imports including not only finished goods but semi-finished products, said Ozilhan, adding that the government should follow special investment policies such as introducing subsidies for semi-finished production in Turkey.

He also said that the government should not be angered by debate but open to discussion to solve problems.

“You can not dress everyone with the same clothes,” he said, adding how different the requirements of one sector were to the other. The textile and tourism industries were important to the Turkish economy, he said, currently generating $15 to $20 billion but warned that losing time might mean not to be able to maintain or replace these figures.