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Turkish Economy - News & Updates

What is the driving force behind Turkish Economic problem?

  • The on going Trump attack on Turkish Economy

    Votes: 29 19.9%
  • Jewish Agenda to weaken adjacent countries to Israel

    Votes: 36 24.7%
  • Internal Turkish economic problems

    Votes: 50 34.2%
  • Falling Exports for Turkey

    Votes: 5 3.4%
  • Loss of Tourism income for Turkey

    Votes: 1 0.7%
  • External Loans or Debt impacting Economy

    Votes: 25 17.1%

  • Total voters
    146
I am sharing that meme for a second time here but it sums the situation very well... for those that see and comprehend.
0E2FD304-884B-4E9E-B13D-2B15CC07735E.jpeg

It’s not even worth it to waste your time arguing with uneducated, mentally incapable and brainwashed... people. Let them live in their bubble where everything in Erdoganistan is going amazing, the West is jealous of Turkey and does everything to harm it...
 
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I am sharing that meme for a second time here but it sums the situation very well... for those that see and comprehend.
View attachment 480294
It’s not even worth it to waste your time arguing with uneducated, mentally incapable and brainwashed... people. Let them live in their bubble where everything in Erdoganistan is going amazing, the West is jealous of Turkey and does everything to harm it...

I'm an economist, and I work on my field. You simply show what kind of an uneducated person as insulting someone whom you don't know anything about. You're blocked!

Why do you think we have the elections now and not in a year as planned?

Inflation and current account deficit keep getting worse so either we're going to see a crash or a well managed soft landing. And a soft landing won't be popular so the Government probably plans ahead and wants four more years before the unpleasant reforms are introduced later.

As an economist, I can clearly say that only alarming (and worse than previous year) indicator was inflation rate and its reason is/was so obvious: oil prices! (I was always saying that government shouldn't increase oil prices but lowering taxes, so global trend on oil won't harm our inflation rate. They did it! But after oil hit 6 liras and harmed our inflation as much as it can. I don't like our economy management in contrary to above weirdo thinks! But I do believe and trust on our economy despite of all structural problems, it's promising!)

But that doesn't prevent me to say that since mid-april we are in an artificial economical turbulence as I stated above. Other indicators don't support this negative differentiation in Turkish economy. It's totally election-focused. And it will be normalized after election, no matter which side wins. (I never meant to say current government is going to heal it after elections, like above weirdo thinks! It's just normal dynamics of international money flow!)

We always had current deficit and we saw worse times. If you check stats, you'll see that it fluctuates in normal range except 2 months (last december and this january) In contrary, we have clearly better figures on services account which will be even more better in summer and rest of the year. So again, in my opinion there is no alarming indicator except inflation rate. (and it could be lower by now if president didn't put pressure on interest rates, and if they did earlier what I suggested about oil prices)

But of course there are also global factors and they are challenging at the moment due to chaotic environment, mostly urged by Trump. (this is also artificial, like uptrend on oil prices, is it a crime to say it?) It must be never ruled out. It's one of the reason for snap election as you said.
 
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I think we've had some pretty decent discussions here. kudos, it's always good to read arguments for and against our current economic situation. I don't think it's necessary to insult each other for posting different opinions. I'd would have loved to have these arguments presented in english though.

I think the lack of transparency with regards to government spendings are causing a lot of discomfort. of course defense spending and others should be held secret, but everything else should be open to public scrutiny.

Do we have a graph showing debt and which factors that effect TR debt ? I think it'd be good to have such a graph to explain the current issues. All I can say is, it's not in the consumers interest to keep their savings in TL.
 
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I'm an economist, and I work on my field. You simply show what kind of an uneducated person as insulting someone whom you don't know anything about. You're blocked!



As an economist, I can clearly say that only alarming (and worse than previous year) indicator was inflation rate and its reason is/was so obvious: oil prices! (I was always saying that government shouldn't increase oil prices but lowering taxes, so global trend on oil won't harm our inflation rate. They did it! But after oil hit 6 liras and harmed our inflation as much as it can. I don't like our economy management in contrary to above weirdo thinks! But I do believe and trust on our economy despite of all structural problems, it's promising!)

But that doesn't prevent me to say that since mid-april we are in an artificial economical turbulence as I stated above. Other indicators don't support this negative differentiation in Turkish economy. It's totally election-focused. And it will be normalized after election, no matter which side wins. (I never meant to say current government is going to heal it after elections, like above weirdo thinks! It's just normal dynamics of international money flow!)

We always had current deficit and we saw worse times. If you check stats, you'll see that it fluctuates in normal range except 2 months (last december and this january) In contrary, we have clearly better figures on services account which will be even more better in summer and rest of the year. So again, in my opinion there is no alarming indicator except inflation rate. (and it could be lower by now if president didn't put pressure on interest rates, and if they did earlier what I suggested about oil prices)

But of course there are also global factors and they are challenging at the moment due to chaotic environment, mostly urged by Trump. (this is also artificial, like uptrend on oil prices, is it a crime to say it?) It must be never ruled out. It's one of the reason for snap election as you said.

Finally someone on this forum who knows economics.

Also, AsiaTimes is a Turkophobic and generally Islamophobic rag that belongs in the trash.
 
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As an economist, I can clearly say that only alarming (and worse than previous year) indicator was inflation rate and its reason is/was so obvious: oil prices!

So,
the amount of short term foreign debt,
low central bank reserves,
cost of 4.000.000 Syrian refugees,
excessive government expenditures

do not count for inflation rates?

As a Turkish citizen living in Turkey who is not an economist, i am saying that the inflation i notice in the markets/bazaars is much higher than the official figures.
 
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If Turkey Joins CPEC and joins the JF17 Thunder program , it would pave way for Turkey to active addition to SCO with massive trade benefits


What is happening to Turkish is exactly what happened to Pakistan in 1965 on ward , specially after afghan war kicked off in 70's influx of refugee + Tourism decline


On one hand the burden of Refugee ate away resources , on other hand Western Businesses declined their investment in Pakistan resulting in a increase of inflation
 
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If Turkey Joins CPEC and joins the JF17 Thunder program , it would pave way for Turkey to active addition to SCO with massive trade benefits


What is happening to Turkish is exactly what happened to Pakistan in 1965 on ward , specially after afghan war kicked off in 70's influx of refugee + Tourism decline


On one hand the burden of Refugee ate away resources , on other hand Western Businesses declined their investment in Pakistan resulting in a increase of inflation

SCO offers nothing to Turkey. A FTA agreement with Pakistan is in works, trade with Russia is good, Turkey will not be able to beat Chinas exports to these markets. I dont see the benefit.

What Turkey needs is a full FTA with our biggest market, the EU.
 
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SCO offers nothing to Turkey. A FTA agreement with Pakistan is in works, trade with Russia is good, Turkey will not be able to beat Chinas exports to these markets. I dont see the benefit.

What Turkey needs is a full FTA with our biggest market, the EU.

Among other things, but I'd love it more if we could export more than we import. Which would mean the consumers would have to be aware of the products they buy.
 
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Among other things, but I'd love it more if we could export more than we import. Which would mean the consumers would have to be aware of the products they buy.

I would be happy if we could revert a couple of the developments of the last few years and stop importing so much food products and become independent again in this area and with the help of a couple strategic investments and renewable energy we can close this gap.

We need to be an export nation but most of the Turkish businesses speak terrible English for example, whenever I used to be in a meeting with Turkish companies I used to cringe hard.
 
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Among other things, but I'd love it more if we could export more than we import. Which would mean the consumers would have to be aware of the products they buy.
That is not how it works. Even if our consumption stood the same, in order for us to start having a trade surplus we would need to reduce purchasing power of our people dramatically.

Because in a very simple way: Purchasing Power = Production + Imports

So when exports remain the same and you want to have a trade surplus, that means having less imports.

And because local production of goods and services also remain the same, purchasing power and thus quality of life should go down.

I also think this is what we should do, even if it would mean having a worse off life. But after all we are on steroids right now in terms of the artificially high purchasing power we have and the SAD socialist members we have here in our forums, whether they like it or not, will wake up to a harsh awakening of our country's reality.

Kısacası: Acı yoksa kazanç da yok.

The actual state of our economy will be more clear with the increased interest rates.
 
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I was under the impression that the banks were imposed new regulations to control avoid opening creditline to people on whims.

I remember that people would have several credit cards and withdraw money from one credit card to pay off debt on one of the other cards.

That in my opinion is very dangerous and should not be allowed. People should have their salary wired directly to their "main" bank account, and should only be allowed to have a creditline in that bank.

If it was the case that people didn't have any creditline, then we'd be better off that our current situation. because people wouldn't live beyond their own capability.
 
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According to Rahmi Koç formidable population of Turkey causes disbalance in external trade. We import and spend more for redundant population.

Also Turkish economy runs with "kaydi para" (alacak senetleri) receivable bonds which unhealty inflates economy.
 
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