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The PKK terror caused an underdevelopment in that region but now that the PKK is almost gone and the region is safe, we can heavily invest in there instead of wasting our money with unnecessary projects.Of course, especially in the south and southeast.
Yes I got it . Thank you manTurkish Lira is losing value and has been for a while against pretty much all the big currencies. Has its advantages, like Turkish products are cheaper to buy for the export markets but also disadvantages because Turkish companies and even the country itself has loans in € or Dollar that need to be paid back, that are becoming pricier by day.
To give you an example some Turkish football clubs have their debt in Euro and the value or Euro vs. Lira has gone up from 2 to 6 or 7 in the last couple years. While the income is pretty much the same and in Lira, which is now worth less. So debt from some of these clubs has gone up from 500m Lira to a couple bln Lira.
This can be good for export oriented companies but as Turkey is in most industries a net-importer of goods, we're gathering more and more debt all over the economy.
In order to stop the fall the central bank is buying/selling dollars, euros, Lira (thus "burning" /spending the central bank reserve) to stop the decline. They are trying to keep the Lira/Dollar below 1:7.
Don't know if this is understandable, English is not my first language and neither did I learn economics in English.
Why this idiot didn't build a gigafactory in Turkey. He visited us and I thought he will invest in Turkey.
It's 7.04 today....they burned billions for nothing...Turkish Lira is losing value and has been for a while against pretty much all the big currencies. Has its advantages, like Turkish products are cheaper to buy for the export markets but also disadvantages because Turkish companies and even the country itself has loans in € or Dollar that need to be paid back, that are becoming pricier by day.
To give you an example some Turkish football clubs have their debt in Euro and the value or Euro vs. Lira has gone up from 2 to 6 or 7 in the last couple years. While the income is pretty much the same and in Lira, which is now worth less. So debt from some of these clubs has gone up from 500m Lira to a couple bln Lira.
This can be good for export oriented companies but as Turkey is in most industries a net-importer of goods, we're gathering more and more debt all over the economy.
In order to stop the fall the central bank is buying/selling dollars, euros, Lira (thus "burning" /spending the central bank reserve) to stop the decline. They are trying to keep the Lira/Dollar below 1:7.
Don't know if this is understandable, English is not my first language and neither did I learn economics in English.