TR Economy & Updates

[Saithan]

Turkey's GSM operators post $4.2B net sales in H1

Three GSM operators in Turkey – Turkcell, Vodafone and Türk Telekom – posted TL 27.3 billion ($4.22 billion) net sales in the first half of 2020, a...

www.dailysabah.com

I'm thinking, Oh yes, we can use that money to close off some debt... I bet Reis is thinking. Now I can defy rational economic management a bit more.

 

[Costin84]

What should people do against Macron to make you happy and make Macron feel threatened? Reis asked for people to stop buying French products so now Turks won’t buy French cars, perfumes, clothes and accessories... Not that they can afford them anyway but let’s call it a “boycott” instead of “poverty”.

View attachment 5048


ps I will ritually burn that later... let’s hope that the Dollar crashes down hard tomorrow after that.

You have to burn the Euro mate

 

[Sinan]

What should people do against Macron to make you happy and make Macron feel threatened? Reis asked for people to stop buying French products so now Turks won’t buy French cars, perfumes, clothes and accessories... Not that they can afford them anyway but let’s call it a “boycott” instead of “poverty”.

View attachment 5048


ps I will ritually burn that later... let’s hope that the Dollar crashes down hard tomorrow after that.

I'm expecting some people to slaughter Roosters....

Last time when we argued with Holland, some people knifed Oranges.

 

[Anmdt]

As of now its 8.29. Government doing every possible thing wrong.

Cumhurbaşkanı Erdoğan: Saldırı dalgasını birer birer boşa çıkartıyoruz

Cumhurbaşkanı Recep Tayyip Erdoğan, "Cumhuriyetimizin kurucu iradesi, nasıl bu vatanı yedi düvelin planlarını bozarak işgalden kurtarmışsa, biz de hedeflerimize aynı şekilde ulaşmakta kararlıyız." dedi.

haberdairesi.com

Erdogan says, outer forces are attacking our economy as usual.

As expected, he sees the fall is coming-notified and teases everyone he can so that he can blame the outsiders for the fall.
If only there was someone to publish; who stocks currency in mass and sells it back right before it rises and falls. These guys -the ones in palace- know it before it comes

 

[Zafer]

As expected, he sees the fall is coming-notified and teases everyone he can so that he can blame the outsiders for the fall.
If only there was someone to publish; who stocks currency in mass and sells it back right before it rises and falls. These guys -the ones in palace- know it before it comes

I have no doubt the Ministry of Economy monitors money movements. It is their job.

 

[Adıvar]

When i was in China 10-15 years ago i could easily afford 4-5 star hotels and everything seemed too cheap to me.

2007 1 TL equals 6.25 Yuan
2020 1 TL equals 0.81 Yuan
Which is SHAME..!

We are getting poor day by day.

 

[Anmdt]

And now Erdogan claims there is NOBODY who can not bring bread to their home, technically he means there is no poverty - or all low-income families are supported by government.

I personally know 2 people -fathers- who can not bring simple IHE (Istanbul Ekmek) to their home. It is more than bread, these people are not destined to live on bread and pasta.
They are gaining over-confidence as economy shrinks, it used to be out of control, now it spins and whirls.

 

[mulj]

Decide what you want for Turke, pride and influence at regional and world matters or cousy comfortable lives of citizens but at the price that you have zero impact and be obedient dog to the eu, usa amd russia. This wnining is patetic, swallow sarow pill untill you cut the deal or finish confikcts with those 3 powers.

 

[Sinan]

And now Erdogan claims there is NOBODY who can not bring bread to their home, technically he means there is no poverty - or all low-income families are supported by government.

I personally know 2 people -fathers- who can not bring simple IHE (Istanbul Ekmek) to their home. It is more than bread, these people are not destined to live on bread and pasta.
They are gaining over-confidence as economy shrinks, it used to be out of control, now it spins and whirls.

I follow some poll companies in youtube... from what i see in the recent polls, AKP lost 1/3 of it's voters since 2018, MHP lost half of their voters.

 

[Anmdt]

I follow some poll companies in youtube... from what i see in the recent polls, AKP lost 1/3 of it's voters since 2018, MHP lost half of their voters.

I wonder if young generation has some representation in those, the conservative young does't incline to AKP anymore but prefers IYIP or alternatives like Deva-Gelecek.

 

[Sinan]

Decide what you want for Turke, pride and influence at regional and world matters or cousy comfortable lives of citizens but at the price that you have zero impact and be obedient dog to the eu, usa amd russia. This wnining is patetic, swallow sarow pill untill you cut the deal or finish confikcts with those 3 powers.

I don't want companies' taxes to be forgiven (Billions of Liras) that have close contact with President, while citizens get news taxes everyday. I don't want president's son-in-law to rule the economy, I want press freedom, i want independent juicidal system. I want Turkey's money to spend on production not on meaningless construction, etc...

These things have nothing to do with being a dog of external powers.

 

[Sinan]

I wonder if young generation has some representation in those, the conservative young does't incline to AKP anymore but prefers IYIP or alternatives like Deva-Gelecek.

Nope, they made that polls with the ones who voted in 2018....it would be even worse for them with the new voters.

 

[Nilgiri]

When i was in China 10-15 years ago i could easily afford 4-5 star hotels and everything seemed too cheap to me.

2007 1 TL equals 6.25 Yuan
2020 1 TL equals 0.81 Yuan
Which is SHAME..!

We are getting poor day by day.

That's driven mostly by the relative inflation of the currencies...Turkey seem to be around 10% inflation in this stretch of years, CHN around 2%...so 8% difference yearly that compounds when you trade even same set of goods and take same set of loans etc.

Poor day by day would be more on PPP consumption per capita:

World Bank Open Data

Free and open access to global development data

data.worldbank.org

That is more referenced to what you per person is actually consuming per person compared to other countries (you can add more to see).

Turkey near doubled it between 2007 - 2017...but since then there is problems now.

Way I see it is because mostly of type of loan burden Erdogan admin. has taken in the last 5 or so years especially... the quality of those (and efficiency/results) of those really matter in the end (i.e how you operate/allocate w.r.t status quo) as no larger reforms were undertaken.

 

[mulj]

I don't want companies' taxes to be forgiven (Billions of Liras) that have close contact with President, while citizens get news taxes everyday. I don't want president's son-in-law to rule the economy, I want press freedom, i want independent juicidal system. I want Turkey's money to spend on production not on meaningless construction, etc...

These things have nothing to do with being a dog of external powers.

All legit concerns but minor in grand schemes of things, lira depreciacion is merely caused by the foreign impact as the turkey showed middle finger to them lot of times in recent years. You forgot how trump crashed lira with one twit? I am 100% sure that lira would recover miracoulsly if erdogan somehow decide to go out from lybia, syria, abandon east mediterian issue, would you like that?

 

[Nilgiri]

A fairly good article on the underlying issue:

Erdogan gambles on fast recovery as Turkey burns through reserves

With tourism struggling and investors fleeing, Ankara is spending billions to fend off a fresh currency crisis

www.ft.com

lira depreciacion is merely caused by the foreign impact as the turkey showed middle finger to them lot of times in recent years. You forgot how trump crashed lira with one twit?

No one forced Erdogan admin to choose this policy of loan intake and infra spend (over say RnD and esp export-based factories).

This is the main driver in the decline of Lira right now along with CA. deficit and inflation rate.

Only CA deficit there is a good excuse in that tourism has crashed a big deal due to Corona that was outside of Turkey govts hands in the root issue creation.

But inflation rate and loan pressure are near solely on Erdogan Admin:

US Dollar to Turkish Lira Exchange Rate Chart | Xe

USD to TRY currency chart. XE’s free live currency conversion chart for US Dollar to Turkish Lira allows you to pair exchange rate history for up to 10 years.

www.xe.com

If we are talking about trump tweet spike, is that the one in mid 2018 in that chart?

If so, it was fairly transitory as you can see to the overall trend driven by Turkey govt.

 

[mulj]

How comes then that r&d was highest in decade during 2019? Point is do money redistribution however you want and you would be still helpless vs buttons moves from usa and eu as you are curremcy oriented towards them. And by my opinion every lira spent in roads, railway and similar infrastucture is well spent, that is longterm investment. Export is good but it is not remedy, there should be balance between internal consuption and exports, and for internal consumtion you need high end infrastructure.

 

[Sinan]

, lira depreciacion is merely caused by the foreign impact

No, it's not it's ruined by bad economy management and gross corruption. Not gonna discuss this anymore.

 

[mulj]

No, it's not it's ruined by bad economy management and gross corruption. Not gonna discuss this anymore.

I will still feel free to reply amd dont mind me for that, you wage 3 parallel wars and have bad relations with west, no management could control damage to the economy to pass it witnout consequnces. You are not usa and eu.

 

[Ryder]

All this time I defended Albayrak. Im like maybe he can get the job done.

Ama he needs to resign. Get somebody more competent and fix the economy up.

If the internal foundations are crap so dont be surprised if external forces can easily destroy your economy.

 

[Ravenman]

Egyptian media is calling for more boycots against Turkey and hopes that Egyptian products will replace Turkish products in Arab states.

Egyptians are the lowest of all Arabs. When you go to a Egyptian restaurant, the waiters almost kisses your ass.

We must do something against this boycotting otherwise it would loose control.