Turkish Economy - News & Updates

[CAN_TR]

https://twitter.com/x/status/1042363792049496065

 

[xenon54 out]

https://twitter.com/x/status/1042363792049496065

Niye bukadar ugrasiyorki, kriz var deyip sucu dis mihraklara yiksin, secmeni zaten inanir.

 

[Fenasi Kerim]

Niye bukadar ugrasiyorki, kriz var deyip sucu dis mihraklara yiksin, secmeni zaten inanir.

Buzdolabi aldim len, ne egonomik krizi! Bunlar dis guclerin oyunlariiiii. Yak dolarlari.

Merkez Bankasında da ne yürek varmış. Erdoğan'ın faizi düşürün demesine rağmen tam tersini yaptı.! Erdoğan da çok kızdı.!!1

Ne yuregi, danisikli dovus bunlar, bak size faizi yuksetmeyin dedim, yukseltiniz bak ne oldu derse sasirmayin.

 

[SouI]

https://www.ntv.com.tr/ekonomi/kadinlarda-istihdam-oraniyuzde-30u-asti,0GtcKoQgIkWV-KivkftuLg

Good! As we all can see:
Less Socialism = More Employment!

With no pain, there is no gain!

 

[CAN_TR]

https://twitter.com/x/status/1042434237721391104

 

[Adıvar]

Why arguing?
Today, China with its GDP per capita lower than even Turkey's is still a poor country...
But soon it will get ahead of Turkey thanks to AKP "milli/yerli" economy policies.

 

[OguzSenturk]

https://www.haberturk.com/yilin-kamyonu-ford-f-max-2148379-ekonomi

This is pretty cool. Ali Koç revealed new truck.

Truck's engine is also made in Turkey.

 

[TaiShang]

How much bigger Turkey's new airport in Istanbul as compared to Beijing Daxiang New Airport (To start operations in October 2019)?

Will it have an integrated transportation system (+high speed rail) so that people's options would not be limited to private taxi drivers?

Beijing New Airport:

Start construction: December 2014
Completion date: May 2019
Operation date: End of 2019
Total Cost: 80 billion yuan (US$13.1 billion)
Number of gate positions: 82
Length of the terminal: 5km
Terminal Area: 700.000 m²
Yearly Passengers: 72 million by 2025
Yearly Passengers: from 2025 up to 100 million
Number of departures and arrivals: 620.000
Cargo: 2 million metric tons
Cargo: from 2025: 4 million metric tons
Number of runways: 4

Beijing Daxing International Airport, the capital's new mega airport, will be supported with an extensive transportation network ( aviation, high-speed rail, rail transit and expressways) featuring five north-south and two west-east lines.

http://en.people.cn/n3/2018/0920/c90000-9502180.html

 

[xenon54 out]

How much bigger Turkey's new airport in Istanbul as compared to Beijing Daxiang New Airport (To start operations in October 2019)?

Will it have an integrated transportation system (+high speed rail) so that people's options would not be limited to private taxi drivers?

Beijing New Airport:

Start construction: December 2014
Completion date: May 2019
Operation date: End of 2019
Total Cost: 80 billion yuan (US$13.1 billion)
Number of gate positions: 82
Length of the terminal: 5km
Terminal Area: 700.000 m²
Yearly Passengers: 72 million by 2025
Yearly Passengers: from 2025 up to 100 million
Number of departures and arrivals: 620.000
Cargo: 2 million metric tons
Cargo: from 2025: 4 million metric tons
Number of runways: 4

View attachment 499978

Beijing Daxing International Airport, the capital's new mega airport, will be supported with an extensive transportation network ( aviation, high-speed rail, rail transit and expressways) featuring five north-south and two west-east lines.

http://en.people.cn/n3/2018/0920/c90000-9502180.html

Istanbul airport will have 90 million capacity in stage one and 200 million in stage 4, high speed rail, metro and bus links will be aviable.

Red and Orange = Metro
Green = HSR

It will be integrated into existing and future lines.

 

[OguzSenturk]

new OVP is ridiculous. Unemployment target is %12.1 next year, %10.8 in 2021 wtf? Seems like AKP is planning to boost minimum wage significantly. Soul is right, AKP is really secret communist and they are literally undermining our economy.

How the heck you could put current account deficit target as %2.6 in 2021? How are you gonna fund it??? Turkey cannot take any more loan but these commies are not aware of this

The real current account plan should have been;
-$210billion import
-$175billion export
-$35billion tourism & services

= %0 deficit

for 2019. But they plan to get %3.3 current account deficit in 2019! lmaoo, how? What are they planning to do in order to get such ridiculous result

 

[SouI]

new OVP is ridiculous. Unemployment target is %12.1 next year, %10.8 in 2021 wtf? Seems like AKP is planning to boost minimum wage significantly. Soul is right, AKP is really secret communist and they are literally undermining our economy.

How the heck you could put current account deficit target as %2.6 in 2021? How are you gonna fund it??? Turkey cannot take any more loan but these commies are not aware of this

The real current account plan should have been;
-$210billion import
-$175billion export
-$35billion tourism & services

= %0 deficit

for 2019. But they plan to get %3.3 current account deficit in 2019! lmaoo, how? What are they planning to do in order to get such ridiculous result

They apparently keep planning to increase short-run aggregated demand through expansionary monetary policies, which will only decrease the efficiency of the economy (negative impact on real economic growth while keeping the nominal economic growth high, aka just a big 'illusion' for ignorant people to believe) so that down on the road they can yet again pull off another 'dış mihraklar' while crashing the economy.

Erdoğan is sadly not a dictator, but just a politician. And all politicians are by default populist, and all populists are by default communist.

We need a real dictator who will break the cycle of communism in our country and start following sustainable pro-real growth policies in return of extremely low popularity (like 1%) among the nation.

Sadly average people have low IQ everywhere and as such dont have the necessery amount of intellect to understand why their current path of economics is not sustainable and doomed to blow up.

With no extremely painful structural reforms the future will be bleak. But popular opinion would never support those reforms as the nation is almost entirely made up by entitled brats that only want goodies but no sacrifice in return.

 

[CrimsonFury]

The targets are reasonable but not enough. Maybe they are betting on a dramatic game changer that they think will happen within the next 3 years (potential discovery of natural resources in the eastern med, creation of new value added export focused companies etc.) if their bet doesn't pay off they will pay for it at the ballot box. I don't care anymore, benim tuzum kuru.

 

[OguzSenturk]

The targets are not reasonable. The problem is that current account deficit would be less than %1 of GDP if government does nothing, but their target is %3.3

That means they will increase minimum wage %15+ and it will increase the purchasing power and imports will increase to boost economic growth which will cause more current account deficit than it would be + more foreign debt and more interest rate Why? Because they are retarded.

edit: government debt has been announced. I don't care government's internal debt since who cares ₺. Government's foreign debt is $89,436billion in august.

 

[CrimsonFury]

The targets are not reasonable. The problem is that current account deficit would be less than %1 of GDP if government does nothing, but their target is %3.3

That means they will increase minimum wage %15+ and it will increase the purchasing power and imports will increase to boost economic growth which will cause more current account deficit than it would be + more foreign debt and more interest rate Why? Because they are retarded.

edit: government debt has been announced. I don't care government's internal debt since who cares ₺. Government's foreign debt is $89,436billion in august.

Your logic is right but you are unreasonable to think they would commit to heavy austerity, remember that they are first and foremost politicians and their primary underlying objective is always the same: to be voted back into power. Otherwise I agree with you, only hard choices and painful measures will cure the economy of the underlying structural problems.

 

[OguzSenturk]

No hard choice needed. If they just stay away from economy, like all other capitalist world does, economy will fix itself, current account deficit will hit zero, currency will get to balance. But no, they feel like they have to burn reserves, they have burned $20billion from TCMB reserves since august, just to strenghten lira %5. This is crazy.

Look what they are aiming for $ to ₺ rate to be 5.6 in 2019 lmao. They are probably ready to burn $60billion more from reserves which will boost account deficit, why? It's not like this will get vote. Their 2021 usd target is 6.2 yet usd is 6.22 right now

Lets think a scenario where government doesn't touch economy.. Lets assume ₺ saw 7.00 in 2019. GDP estimate in national currency for 2019 is ₺4.45 trillion, means we would get $635bln gdp overall 2019, and if that spreads equally into all quarters, lets say $160bln GDP for each quarter. Divide it to 3; $53billion average GDP for each month.

Import to GDP ratio was nearly %23 in 2016. Lets assume that it will be %25 in 2019 as a worst case scenario.

53/4 = $16.2bln monthly average import.
16.2*12 = 194.4, nearly $195billion overall import.

2018 export will be close to 165 billion and it's still increasing fast. But let's say it won't even increase %1 and stays stable in $165billion

2018 tourism revenue will be close to $32billion and it's still increasing fast. But let's say it won't even increase %1 and stays stable in $32billion.

Total monetary income would be $197billion, while imports would be $195billion gives us legit current account surplus!

This is the scenario that would happen if the government DOES NOTHING. But they put the current account deficit target to %3.3, together with $795billion GDP target lmao, means they planned to get $27billion current account deficit.

They don't have to get hard choices. They just need to stay the hell out of economy.