TR Economy & Updates

[what]

Without the oil/gas imports we would already have a trade surplus, probably near to 0 in the last couple of years too.

The easiest solution to this is massive investments into renewable energy. The profits of the Gas in the Black Sea need to be invested wisely and in my opinion renewables should be one of the key areas. Every solar cell or windmill build will mean a lasting reduction in imports.

The CO2 tax that will be introduced could be and should be used to attract investments in renewables, make it attractive with subsidies. Use the polluters to build a lasting green economy.

 

[Abdelaziz]

Without the oil/gas imports we would already have a trade surplus, probably near to 0 in the last couple of years too.

The easiest solution to this is massive investments into renewable energy. The profits of the Gas in the Black Sea need to be invested wisely and in my opinion renewables should be one of the key areas. Every solar cell or windmill build will mean a lasting reduction in imports.

The CO2 tax that will be introduced could be and should be used to attract investments in renewables, make it attractive with subsidies. Use the polluters to build a lasting green economy.

Nuclear power is the only real alternative

 

[what]

Nuclear power is the only real alternative

Why?

 

[Abdelaziz]

Why?

Nuclear power is cheap ..reliable .. sustainable .. powerful .. and safe
Unlike the renewable resources which are too costly for a country like turkey and unsustainable either
French generate half of their power from nuclear reactors
USA have more than 110 reactors

 

[Rodeo]

Nuclear power is cheap ..reliable .. sustainable .. powerful .. and safe
Unlike the renewable resources which are too costly for a country like turkey and unsustainable either
French generate half of their power from nuclear reactors
USA have more than 110 reactors

Did you actually look at his graph?

 

[Lool]

Did you actually look at his graph?

Why?

The main problem is in reliability
Think about it, while wind and solar panels are the cheapest, they arent the most reliable as some days might be windy while others arent. Similarly, some days might be sunny while others arent; thus, the energy level being supplied isnt constant and is susceptible to variation. For a nation of 10 million ppl or so, with a windy or sunny terrain, that is fine. However, for a nation like Turkey with 84 million ppl and variable geological conditions, it isnt reliable. Another major disadvantage is space; for solar or wind to produce as much energy as one nuclear reactor, it may need 10 to 20 times the same space (as an example) which reduces the land available for development. On the other hand, nuclear reactors can be as large as mega gas or oil generating stations; yet may be able to produce 5 times the power (as an example) generated by former stations while being eco-friendly. This makes nuclear energy quite attractive tbh. The only major disadvantage about nuclear is that, if something bad happens, shit can get ugly; although, I did hear that new nuclear stations have higher safety standards than their previous counterparts

AGAIN, if you need a reference, do look at France!

 

[Lool]

October sales narrow Turkey’s foreign trade deficit by 40% to $1.44B

Turkey’s exports and imports saw an annual rise of 20.1% and 12.8% to reach $20.79 billion and $22.23 billion, respectively, the Turkish Statistical...

www.dailysabah.com

Foreign trade deficit shrinks 40 pct in October - Latest News

Turkey's foreign trade deficit shrank by 40.1 percent to stand at $1.44 billion in October, the Turkish Statistical Institute (TÜİK) said on Nov. 29.

www.hurriyetdailynews.com

Honestly, I expect the trade deficit for November to be even less due to the massiv edevlauation in the lira as it will boost exports even more (but not by much due to rising raw material prices) while placing a barrier on unnecessay imports

I expect it to be around 750 million dollars in November and around 350-500 million dollars in December; with January or February probably recording a small trade surplus

 

[Saithan]

Honestly, I expect the trade deficit for November to be even less due to the massiv edevlauation in the lira as it will boost exports even more (but not by much due to rising raw material prices) while placing a barrier on unnecessay imports

I expect it to be around 750 million dollars in November and around 350-500 million dollars in December; with January or February probably recording a small trade surplus

It depends on whether domestic products are cheaper than their competitors. At the end of the day quality will win. So I'm hoping our domestic consumers are given quality products.

 

[Turko]

Nuclear power is cheap ..reliable .. sustainable .. powerful .. and safe
Unlike the renewable resources which are too costly for a country like turkey and unsustainable either
French generate half of their power from nuclear reactors
USA have more than 110 reactors

Look at the price which Turkish citizens will have to buy from the Russian nuclear plant.
"Half of the electricity produced at Akkuyu NPP will be purchased by our government for 15 years at a price of 15.33 dollars-cents/kWh."

Today 1 kWh would cost almost 2 TL which is expensive as f....


We need just honest politicians.
"Guarantee burden of Akkuyu NPP is 18 billion dollars: They achieved a 'first' again!"

Akkuyu NGS'nin garanti yükü 18 milyar dolar: Yine bir ‘ilk’i başardılar!

Akkuyu Nükleer AŞ’nin internet sitesindeki ifadelere göre AKP, yine dünyada bir ilki “başarmış” gözüküyor. Sitedeki cümle şöyle: “Akkuyu projesi, dünyada ‘Yap-İşlet- Sahip ol’ modeliyle inşa edilen ilk NGS projesidir.” Bizim anlayacağımız şu: Diğer garantili projelerin aksine, Akkuyu NGS’yi Rus...

www.birgun.net

 

[Tornadoss]

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What a joke. TL lost 15% in value just last week and keeps losing value. GDP is shrinking last 8 consecutive years.

 

[Nutuk]

Can we all agree that many of the most “powerful” (in matters of economic, military..) states try to sabotage or stop our defense industry independence? If we all agree in that. Is it possible that the economic situation we are right now, is not ONLY a matter of miss-management by Erdo?

Absolutely, it is not only a matter of mismanagement, CAATSA economic sanctions do their part.

But it is also absolute madness to gamble in this volatile times with lowering interest rates.

The government argues that interest rates are in direct correlation with inflation (in basic that is correct) but lowering the interest rates works if you have a sound economy, not when you have a chronical negative trade balance and you have to run your economy on borrowed money which is the case with Turkey.

So even with right arguments the implementation does not look right and you see how Turkish currency gets depreciated / losing her credibility.

 

[Saithan]

We will support production, exports with lower rates: Erdoğan - Türkiye News

Turkish President Recep Tayyip Erdoğan on Nov. 30 again rejected the idea of raising interest rates.

www.hurriyetdailynews.com

 

[Turko]

1TL : 2 Ukranian Hrivna
İt was 1 :8

 

[Tornadoss]

Today, Central Bank intervened to the dollar after it approached 14 TL. Floating limited dollars on their hands.
And the dollar decreased to around 12,50.

Bloomberg - Are you a robot?

www.bloomberg.com

Later on, his royal highness made some statements and the dollar jump back to 13,20s

 

[HTurk]

It seems no more sex tourism to Ukraine. The worst thing about economy is many young people will not marry and many of our girls ,daughters will get into prostitution!! Akp has so many diet in its hands. Supporter of akp also have that dirt.

oha çüş

 

[Fighter_35]

oha çüş

What is oha?? Anything I said is wrong? This is the thing what will happen. If you don't see what will happen, it is your problem not mine. This is exactly what will happen,akp fan alamancis may not see it but it is the reality.

 

[Nilgiri]

Breakingviews - Turkey spends money it doesn’t have

Minutes before President Tayyip Erdogan delivered a speech renouncing high interest rates once again, the Turkish central bank said it was selling dollars to support the lira. The bank has $25 billion of net reserves as of November, down from $28 billion the month before. But that includes...

www.reuters.com

Turkish central bank said it was selling dollars to support the lira. The bank has $25 billion of net reserves as of November, down from $28 billion the month before. But that includes another $48 billion of swaps from local banks, without which reserves are firmly in negative territory.

Turkey may be on the verge of hyperinflation | Ahval

Turkey’s economy may be on the brink of hyperinflation after the authorities ignored inflation of almost 20 percent and cut interest rates for a third successive month.

ahvalnews.com

“Headline CPI will likely close in on 30 percent over the coming months,” said Pheonix Kalen, analyst at French bank Societe Generale, according to the FT.

“Headline CPI peaking at 27 percent over the near term would be an optimistic scenario,” he said.

The Turkish Statistical Institute will publish November inflation figures on Friday. The central bank next meets on interest rates on Dec. 16.

 

[Nilgiri]

To those saying "exports exports exports", "trade deficit will be erased" in some "reach for a plan"....or "things have to get so bad/extreme so that they can curl up and meet good"...."omelette needs eggs to be broken etc"....

or whatever variant of <insert export miracle model by F=ma its so simple> by simple F applied lever....without looking at m (m being basic investment)....and talking in whichever way about "a"

One simple question....if that is the understanding or "objective".....why is Central Bank selling dollars to support Lira then?

Wouldn't you want the TL to depreciate as extreme as possible....for the exports tra-la-la-la result?

It is obvious as hell that NO, the objective (even from the lunacy perspective) is not about exports/trade deficit at all.

You would NOT be selling scarce + borrowed USD to defend a Lira rate.

You would WANT the TL to depreciate so that you "export more" "easily" right?

So why the pitting of two forces against each other?
=================================================

This is the single most ridiculous thing going on in any major economy in the world right now.

Lowering interest rates (signalling more to come too) while selling US dollars (that you have swapped for since you are already in negative) to defend the currency.

 

[Lool]

Hm.... this is a bad sign! A really bad sign

https://twitter.com/i/web/status/1466163516323291145

 

[Nutuk]

Az kaldi 2023'te Turkiye cumhuriyeti kalmayacak, mission accomplished