Turkey's Economy Keeps Expanding ( Despite All )

[Glass]

i would also like to know what the net worth of erdogans family and extended family is.

 

[KediKesenFare3]

The inflation of 2017 was considered in 2017? How so? Bending space and time near a black hole?

At least Erdo gets richer. His family is so corrupt you couldnt imagine. His wife alone is connected to money laundry worth 9 billion $. Who cares how the average turk fares, when Erdo gets richer.

I was talking in general. Just look up Germany's GDP in USD and Euro and hopefully you'll understand what I'm talking about.

 

[xenon54 out]

The inflation of 2017 was considered in 2017? How so? Bending space and time near a black hole?

No major difference in previous year, the inflation rate is about the same since a couple years now.

 

[damm1t]

The inflation of 2017 was considered in 2017? How so? Bending space and time near a black hole?

At least Erdo gets richer. His family is so corrupt you couldnt imagine. His wife alone is connected to money laundry worth 9 billion $. Who cares how the average turk fares, when Erdo gets richer.

Dude from where do you get such news ?

 

[Deliorman]

Let's just agree to disagree... I know that for those Turks who are against Erdogan and for the foreigners ( like Markus and Flamerescu) who just hate Turkey it doesn't matter how much we grow- for them it will be a bad result no matter what. On the other hand for those who like Erdogan 2.9% is a great result which it isn't. The truth is always in the middle.

One thing I know for sure is that the last year could have been much worse and at the same time it could have been much better... For me 2016 (+ the second half of 2015) was just a lost year for the Turkish economy because 2,9% is far below our true potential of 6-7% annually. On the other hand if we consider how turbulent was the last year for us (terror, the coup, the Russian embargo, the civil wars in Syria and Iraq, the low oil prices which lead to some economic problems in most of our trading partners in the Arab World and Central Asia) it's surprizing that we have any growth at all. So many countries in similar circumstances like these would have just collapsed so don't panic guys. I know that in some sectors of the economy they had a tough year, in others though things were going fine so let's just hope that this year will be better for all.

 

[blondeturkish]

Let's just agree to disagree... I know that for those Turks who are against Erdogan and for the foreigners ( like Markus and Flamerescu) who just hate Turkey it doesn't matter how much we grow- for them it will be a bad result no matter what. On the other hand for those who like Erdogan 2.9% is a great result which it isn't. The truth is always in the middle.

One thing I know for sure is that the last year could have much worse and at the same time it could have been much better... For me 2016 (+ the second half of 2015) was just a lost year for the Turkish economy because 2,9% is far below our true potential of 6-7% annually. On the other hand if we consider how turbulent was the last year for us (terror, the coup, the Russian embargo, the civil wars in Syria and Iraq, the low oil prices which lead to some economic problems in most of our trading partners in the Arab World and Central Asia) it's surprizing that we have any growth at all. So many countries in similar circumstances like these would have just collapsed so don't panic guys. I know that in some sectors of the economy they had a tough year, in others though things were going fine so let's just hope that this year will be better for all.

2017 has been good so far The lira is gaining momentum, as for those two who seems to hate Turkey no matter what. i know what to do with those kind of guys leave it to me. i'm not going to be a politicaly correct for them.

 

[KediKesenFare3]

Let's just agree to disagree... I know that for those Turks who are against Erdogan and for the foreigners ( like Markus and Flamerescu) who just hate Turkey it doesn't matter how much we grow- for them it will be a bad result no matter what. On the other hand for those who like Erdogan 2.9% is a great result which it isn't. The truth is always in the middle.

One thing I know for sure is that the last year could have much worse and at the same time it could have been much better... For me 2016 (+ the second half of 2015) was just a lost year for the Turkish economy because 2,9% is far below our true potential of 6-7% annually. On the other hand if we consider how turbulent was the last year for us (terror, the coup, the Russian embargo, the civil wars in Syria and Iraq, the low oil prices which lead to some economic problems in most of our trading partners in the Arab World and Central Asia) it's surprizing that we have any growth at all. So many countries in similar circumstances like these would have just collapsed so don't panic guys. I know that in some sectors of the economy they had a tough year, in others though things were going fine so let's just hope that this year will be better for all.

100% true. Thanks for this balanced analysis.

@damm1t

You forgot to mention 3 million refugees and the economic crisis in South Europe/Greece (which effect us directly).

 

[AUz]

Most of them are developed economies already.


Japan is a fully developed economy,1 % per Japan means alot more than 2.9% for Turkey,you can t compare it.Plus,the devaluation of the lira makes the growth even more meaningless.

@era_shield

Lol, not really.

What matters is *internal* or organic strength of an economy. Fluctuations in currency markets are temporary and always get align with the actual strength of an economy in the long term.

That's why while 1980's, 1990's China was in the toilet in terms of currency value---everybody was banking on it. Why? Because internal strength of Chinese economy was for all to see (abundance of labor, growth, government planning, mass education, and so on).

And boom, we saw what happened (and still happening with China).

In other terms, as my Macro Economics T.A told us (He was from Italy Where's @ValerioAurelius?), in the long run---nominal GDP will almost always catch up to PPP.

That's why we know for a fact that China will be a bigger economy than the U.S. Why? Look at the trajectory of their GDP based on Purchasing Power Parity in International Dollars.

Same goes for India being a bigger economy than Germany or Japan in future (next 40 years etc). Currencies are slower to catch up with the real strength/production/consumption of an economy. Hence the difference between nominal and PPP calculations.

 

[AnatolianEagle]

Too bad for you @damm1t or should I say Turkiye...

Everyone it's not hard to understand DESPITE ALL, meaning of, could be better...

Now everyone comes with the dumbest argument.

Let's just agree to disagree... I know that for those Turks who are against Erdogan and for the foreigners ( like Markus and Flamerescu) who just hate Turkey it doesn't matter how much we grow- for them it will be a bad result no matter what. On the other hand for those who like Erdogan 2.9% is a great result which it isn't. The truth is always in the middle.

One thing I know for sure is that the last year could have been much worse and at the same time it could have been much better... For me 2016 (+ the second half of 2015) was just a lost year for the Turkish economy because 2,9% is far below our true potential of 6-7% annually. On the other hand if we consider how turbulent was the last year for us (terror, the coup, the Russian embargo, the civil wars in Syria and Iraq, the low oil prices which lead to some economic problems in most of our trading partners in the Arab World and Central Asia) it's surprizing that we have any growth at all. So many countries in similar circumstances like these would have just collapsed so don't panic guys. I know that in some sectors of the economy they had a tough year, in others though things were going fine so let's just hope that this year will be better for all.

This is how the topic already started with a center view. You just repeated the topic and brought it back into the middle that's great.

Now look back and find out where, how and why it got messed up.

 

[Deliorman]

This is how the topic already started with a center view. You just repeated the topic and brought it back into the middle that's great.

Now look back and find out where, how and why it got messed up.

I don't know where, how and why it got messed up. Explain it to me... then I will repeat it and bring it into the middle again for you.

 

[Kebapçı Erhan]

We need 5% growth at least but 2.9% not bad considering what happens in 2016.

Our economy is more important than anything else, that should be top priority in general.

 

[Bismarck]

We need 5% growth at least but 2.9% not bad considering what happens in 2016.

Our economy is more important than anything else, that should be top priority in general.

Yes, you need 5-6% growth per year. And Turkey is able to grow 5-6% every year. Maybe some more reforms are necessary, but definitely necessary is stability and security on turkish border.

 

[Saithan]

Well, one thing is for certain you can crunch the numbers anyway you like it. I've always believed import vs. export would tell us how it looks. When a country has economic downtime the usual way to deal with it is start mega construction projects and spending money you don't have by borrowing.

So the question here is pretty simple, what's the net debt of Turkey and how much do we owe in net capita ? I am pretty certain that all those projects needs financing and the ones to pay the bill is Turkey, not RTE or his ilk.

 

[xenon54 out]

lol yeah you have this hyper inflation since a couple of years?

Are you happy with 10%+ Inflation rates and shrinking living standards combined with economic implosion?

Btw Reuters said that even this puny 2.9% rate was bought from massive debt

You dont know what hyper inflation is do you?
Why dont you just shut up on stuff you have no clue about for once?

 

[ValerioAurelius]

You dont know what hyper inflation is do you?
Why dont you just shut up on stuff you have no clue about for once?

When you have a 10% inflation, then you are fucked. Its that easy. Do you actually know what 10% monetary loss means? You should check the definition. When inflation is above 5% the money virtually loses its basic sense as exchange tool and people have to switch to other forms of payment.

So i ask again:

Are you happy with 10%+ Inflation rates and shrinking living standards combined with economic implosion?