Turkish Economy - News & Updates

[xxxKULxxx]

Turkish Airlines 2013 net revenue: 683 Mln TL ... New record...

2013 kârı 683 milyon TL!

 

[Hakan]

Turkish Airlines 2013 net revenue: 683 Mln TL ... New record...

2013 kârı 683 milyon TL!

Special thanks to Kobe Bryant and Messi.

 

[Hakan]

Turkey's Pipeline Ambitions
November 21, 2013​

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Analysis
For much of the past decade, Europe's energy standoff with Russia has been embodied in two main projects: the proposed European-led Nabucco pipeline (and its downsized variation, Nabucco West) that would carry 10-31 billion cubic meters of natural gas from anywhere in the region except Russia (including Azerbaijan, Turkmenistan, Iraq, Iran and Egypt) on to Europe, and the rival Russian-led South Stream pipeline that would cross the Black Sea to carry up to 63 billion cubic meters of Russian natural gas to Europe. Turkey -- the critical transit state for these similarly ambitious pipeline projects -- supported both proposals, claiming it could be a neutral bridge between East and West, while waiting to see which would prove more feasible.

But Turkey's attempt at impartiality eventually ran into complications. The Nabucco project already faced numerous financial, logistical and political obstacles, but these difficulties grew when the European economic crisis began in 2009. By 2013, two projects were left on the table to transport Azerbaijan's natural gas to Europe: the downsized Nabucco West project, which would run 1,300 kilometers (roughly 800 miles) from Turkey to Central Europe carrying 23 billion cubic meters of natural gas, and the much more economically feasible Trans-Adriatic Pipeline, or TAP, which would run 500 kilometers from Turkey across the Balkans to Italy. The TAP would supply 10 billion cubic meters of natural gas from Azerbaijan's Shah Deniz II field. In the end, the consortium of energy companies developing the Shah Deniz II field in the Caspian basin -- including BP, Total and Azerbaijan's state-owned SOCAR -- chose the TAP, abandoning Nabucco altogether.

Economic considerations naturally factored heavily into the decision, but Moscow also had a hand in influencing this outcome. The smaller volume and end consumers of the TAP project were much less threatening to Russia than those in the Nabucco plans, which would target Central Europe on the Russian periphery. It was probably no coincidence that just prior to the decision on the TAP, Russia withdrew its bid for a controlling stake in Greek natural gas transit firm DESFA, allowing SOCAR to win the bid. The move, which followed closer interactions between Moscow and Baku, boosted the TAP's chances and has been followed by other signs of enhanced Russo-Azerbaijani energy cooperation. Russia and Azerbaijan are already in discussions to transport Russian oil through the Baku-Tbilisi-Ceyhan pipeline (the entire goal of which was to circumvent Russia) and to reverse the Baku-Novorossiysk pipeline to send Russian oil to Azerbaijan. A heavier Russian presence in the Caucasus will only reinforce Turkey's energy dependence on Russia.

Article From Stratfor

 

[xxxKULxxx]

TAV will operate Milas-Bodrum for 20 years and for this they will pay € 717 Mln. + KDV to our goverment... This tender made today...

TAV Aero

YDA will operate Dalaman Airport for 25 years and for this they will pay € 705 Mln + KDV to our goverment... This tender made 2 weeks ago...

YDA | Corporate Group

They are both Turkish Companies and they are powerful worldwide...

So it makes € 1,422 Bln + KDV... I don't know what is KDV's persentage but it makes more then 4 Bln TL without KDV...

Today's tender's news...

Sani Şener: Beklediğimizin üzerinde çıktı

 

[LegionnairE]

Turkish Airlines 2013 net revenue: 683 Mln TL ... New record...

2013 kârı 683 milyon TL!

Imagine, this could be Türk Telekom, if it wasn't so foolishly sold to international companies at a low price

THY is only %51 owned by Turkish state, rest of the stock can be invested on from İstanbul stock exchange by average Turkish investor.

Sömürüyü anlayın işte. Türkiyedeki KİT ler özelleştirilmediler, bizden çalındılar! Atatürk'ten beri bütün Türk ulusunun emeği bu.

 

[olcayto]

Turkey's growth above expectation at 4% from end '13


Turkey´s economy grew above expectation at 4 percent annually in last quarter of 2013.

Turkey’s economy continued on its growth path for the 17th consecutive quarter, expanding by 4.4 percent in the October-December period of 2013, according to a statement by the Turkish Statistical Institute on Monday.

Gross Domestic Product - the market value of all officially recognized finished goods and services produced within a country in a year - is estimated to have increased by four percent in 2013, compared with 2.1 percent in 2012.

Turkey´s Finance Minister Mehmet Simsek said in a statement, "Turkey grew by 4 percent in 2013, an increase from the 3.6 percent growth rate predicted in the goverment´s medium term economic plan."

GDP increased by 10.2 percent and reached 1.56 trillion lira (US$720 billion) at current prices.

Financial intermediation, increased by 9.8 percent and reached 15.5 billion lira (US$7.2 billion) at constant prices compared to 2012 while the manufacturing industry, increased by 3.8 percent and reached 29.4 billion lira (US$13.9 billion) at constant prices. Simsek stressed this growth was led by domestic consumption, which contributed 6.4 points to growth throughout 2013.

"The growth was recorded despite many disadvantages such as tapering of quantitative easing, recent financial volatilities, regional, global and political disputes that have emerged in the last months along with the increase in oil prices," he said.

The finance minister also said he expects some slow down in growth in 2014 but the positive trend will continue.

Simsek added that political risks in the country have been reduced after Sunday's local elections and the election result will support the country´s domestic demand and impact on this year's growth outlook.

The per capita gross domestic product in 2012 was 18.846 TL (US$10.459) and in 2013 was 20.531 TL (US$10.782) at current prices.

Turkey´s medium term economic program by the treasury said the country´s official figures for growth rate was 3.6 percent in 2013 and predicts to be 4 percent this year.

The European Commission's winter forecast on 25 February downgraded its expectations for Turkey's economic growth in 2014 and 2015. The report forecast predicted Turkey´s economy to grow by 2.5 percent in 2014 and by 3 percent in 2015, making it a half a percent less for this year and a 0.8 percent decrease for 2015 than predicted in the Commission's last forecast in November.

In 2013, annual exports decreased by 0.4 percent to US$151.9 billion compared to 2012, while imports rose 6.4 percent, reaching US$251.7 billion.

Last year, the foreign trade deficit increased 18.7 percent to US$99.8 billion compared to 2012.

Turkey's growth above expectation at 4% from end '13

 

[xxxKULxxx]

This is another superb news...

Dış ticaret açığı son 4 yılın en düşüğünde

 

[xenon54 out]

This is another superb news...

Dış ticaret açığı son 4 yılın en düşüğünde

Yep, this is our weak point, its good that it is decreasing, we still need to decrease the deficit even more considering the fact that we have the second biggest trade deficit in the world.

We urgently need the nuclear reactors so we are less dependent on foreign ressources, i think oil and gas imports have a huge part on our deficit.

 

[usernameless]

Yep, this is our weak point, its good that it is decreasing, we still need to decrease the deficit even more considering the fact that we have the second biggest trade deficit in the world.

We urgently need the nuclear reactors so we are less dependent on foreign ressources, i think oil and gas imports have a huge part on our deficit.

I saw some article long time ago that stated that even with the nuclear reactors, Turkey would still have trade deficits, but of course in a way lesser degree. I wish Turkey would follow SK's strategy and become a big player in electronics and technologies too.

 

[xenon54 out]

I saw some article long time ago that stated that even with the nuclear reactors, Turkey would still have trade deficits, but of course in a way lesser degree. I wish Turkey would follow SK's strategy and become a big player in electronics and technologies too.

There are only two nuclear plants with a couple reactors planned, this is nothing, compare it with Germany a 80 million country, they have 50 nuclear rectors and they are still dependent on Russian gas, so you can figure it out by yourself why a couple reactors arent enough.

 

[olcayto]

Decreasing the trade deficit does have its drawbacks.

There are two ways to decrease it, decreasing imports or increasing export. Turkey is currently doing both of this.

A expensive dollar, increasing of the interest rates by the Central Bank, hardening the criteria for consumers loans and increasing the ötv, are decreasing imports due to loss of purchasing power of the people.

A cheap tl means cheap Turkish products, which means a better competitiveness of Turkish products in the world and the start of recovery of the west increases exports.

The problem here is that although decreasing deficit is good for stability, it's very bad for economic growth.
This has to be balanced out by the increasing exports, otherwise the economic growth will slowdown or even turn negative.

 

[xenon54 out]

The problem here is that although decreasing deficit is good for stability, it's very bad for economic growth.
This has to be balanced out by the increasing exports, otherwise the economic growth will slowdown or even turn negative.

Yeah but the bubble will burst one day if you let it go.

 

[xxxKULxxx]

Murad BAYAR talked about a problem about our engineers in defence industry... He says "After some time how we will be able to give job to our engineers because after some time there will be no need for that much engineers"

So as @usernameless pointed out we should complete our industry revolution and our private companies should make an attack in civil technologies and civil industry and by this way our experienced engineers(in defence industry) will take place in civil industry... So our civil industry will also boom...

 

[xenon54 out]

So as @usernameless pointed out we should complete our industry revolution and our private companies should make an attack in civil technologies and civil industry and by this way our experienced engineers(in defence industry) will take place in civil industry...

An interesting point, it is a fact that many innovations, espacially in electronics are made in military industry, i think its safe do say that military engineering is 10 years ahead of the civil market.

 

[usernameless]

The problem here is that although decreasing deficit is good for stability, it's very bad for economic growth.

Im not an economic expert, but if im not mistaken, for example SK has a very positive trade surplus, yet they also have a good growth. Am i overlooking some factor? Could you explain how you came to this conclusion bro?