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Businessman makes U-turn after complaining about state of Turkish economy

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Abdullah Kiğılı, Turkish businessman and the owner of a well-known Turkish clothing brand, has backed away from earlier remarks complaining about the state of Turkey’s economy, the Diken news website reported on Monday.

In an interview with the pro-government Hürriyet daily, Kiğılı said his earlier comment of “We have never seen a bigger crisis” was made some four months ago and that his views have changed.

“In 100 days, the sector has seen things that neither me nor anyone else would have dared to imagine,” Kiğılı said. “Interest on bank loans has dropped as promised, and inflation has been going down.”

The prominent retailer had given an interview to the Capital magazine that was published in December in which he had predicted that the retail sector had entered a most difficult period and that half the men’s clothing brands as well as 5 percent of the stores in all shopping malls would go out business.

“Some of my comments were taken out of context,” the businessman told Hürriyet. “Besides, it was an assessment that I had made months ago.”

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