TR Economy & Updates

[Agha Sher]

No, Turkey is not a big producer nation and this is being proven by the data about the exports of every country. You can't say that you are a big producer when you export way less than a poor country like Vietnam or Poland (with 38mln population), Malaysia (with 34mln people) and even less than Czechia (with 10mln people). Look how close to Turkey Austria, the UAE, Ireland and even Hungary are- all of them countries with way less population.

Even Bulgaria that has a population of 6,5 million has an export of 42 billion USD last year compared to Turkey's 225 billion USD and a population of 85 million people. A rough calculation shows that Bulgaria exports around 5 times less than Turkey in absolute numbers while having a 13 times smaller population. That means that the average export per person of Bulgaria is 2,5 times bigger than that of the average Turk. And Bulgaria is the shittiest country in the EU, I won't lie to you.


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I think you're missing the development here. If I am not mistaken the exports will reach 300bn USD in 2022. In a half of a decade, Turkey could very well be in top 15 with the industrial revolution happening right now (surge of high value exports)

 

[Ryder]

Good for you and businessmen, it doesn't mean shit when people are hungry.

You should stop watching Ahaber, go out on the street

Ahaber is the most reliable news outlet alongside Fox News and Alex Jones.

 

[Zafer]

People didn't beleive what we have achieved so far would happen but it has happened and this will continue non stop in the next 15 years.

 

[Lool]

Finally good results for the month of October
The Turkish current account recorded a 359 million dollars deficit for the month of October fueled by tourism. Hopefully, Turkish current account may swing to surplus with November data next month

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[what]

What the country needs is technocrats, science based decision-making. We have a solid industry base but most of them are low level/margin exports.

 

[Xenon54]

What the country needs is technocrats, science based decision-making. We have a solid industry base but most of them are low level/margin exports.

The labor force in Turkey is working like slaves hence you get the kind of industry thats heavy with minimal margin that can not settle in higher developed countries where the labor rights are better protected.

The high skiller labor force in Turkey doesnt want to stay in the countrys due to low payment, bad political climate and far better opportunities abroad which prevents high tech industries from settling en masse.
Its not enough to say we will do this or we will do that, its time to act and offer people a better life style so that the high skilled people dont leave the country, you first need the basis for these industries to settle in the first place. Imagine intel opened a factory in Turkey, they would struggle to find thousands of high skilled technicians.

 

[Zafer]

The labor force in Turkey is working like slaves hence you get the kind of industry thats heavy with minimal margin that can not settle in higher developed countries where the labor rights are better protected.

The high skiller labor force in Turkey doesnt want to stay in the countrys due to low payment, bad political climate and far better opportunities abroad which prevents high tech industries from settling en masse.
Its not enough to say we will do this or we will do that, its time to act and offer people a better life style so that the high skilled people dont leave the country, you first need the basis for these industries to settle in the first place. Imagine intel opened a factory in Turkey, they would struggle to find thousands of high skilled technicians.

Tech companies abroad are laying off their employees en masse. 10.000 from Amazon, 10.000 from Meta and from every tech company in preparation of an impending collapse. Yet our people are keeping their jobs and growing in numbers. So lucky for us.

 

[Xenon54]

Tech companies abroad are laying off their employees en masse. 10.000 from Amazon, 10.000 from Meta and from every tech company in preparation of an impending collapse. Yet our people are keeping their jobs and growing in numbers. So lucky for us.

Why are you cherry picking whatever suits you? These companies saw a boom during corona years and now gradually return the pre covid times. But on the other hand there is Intel building a massive new factory in USA and so is TSMC.

It really makes no sense to do a company to company comparison to defend the state of Turkish economy.

 

[Zafer]

Why are you cherry picking whatever suits you? These companies saw a boom during corona years and now gradually return the pre covid times. But on the other hand there is Intel building a massive new factory in USA and so is TSMC.

It really makes no sense to do a company to company comparison to defend the state of Turkish economy.

TSMC is doing it under pressure by the US government and it is not certain that it will happen.

It is not only to flatten the employee bubble that happened in the media companies caused by the pandemic but also in preparation to a major recession of the entire economies after the war in Ukraine and power struggle between US and everyone else, China in chief.

You don't see my point that our people are better taken care of at home than being in some foreign land as their economies are bleeding and jobs are being cut. You still think that we are losing brain power. Our engineers work remotely when they need to rather than moving abroad.

 

[B_A]

I will back to Istanbul next February

nor japan neither uk can match my motherland

 

[B_A]

The labor force in Turkey is working like slaves hence you get the kind of industry thats heavy with minimal margin that can not settle in higher developed countries where the labor rights are better protected.

The high skiller labor force in Turkey doesnt want to stay in the countrys due to low payment, bad political climate and far better opportunities abroad which prevents high tech industries from settling en masse.
Its not enough to say we will do this or we will do that, its time to act and offer people a better life style so that the high skilled people dont leave the country, you first need the basis for these industries to settle in the first place. Imagine intel opened a factory in Turkey, they would struggle to find thousands of high skilled technicians.

By now,we still need much more people to go to 1st world countries to learn much more knowledge

as the whole 1st world countries are decline and promote LGBT,thet will finally come back and invest our country

 

[Xenon54]

It is not only to flatten the employee bubble that happened in the media companies caused by the pandemic but also in preparation to a major recession of the entire economies after the war in Ukraine and power struggle between US and everyone else, China in chief.

And you think this recession will not hit Turkey?

You don't see my point that our people are better taken care of at home than being in some foreign land as their economies are bleeding and jobs are being cut. You still think that we are losing brain power. Our engineers work remotely when they need to rather than moving abroad.

I really wonder who is telling you these fairy tales, there is no job shortage here at all if anything then labor shortage.

 

[Xenon54]

I will back to Istanbul next February

nor japan neither uk can match my motherland

I was there last may, enjoy the exchange rate, things will be cheap for you but almost not affordable for the locals.

 

[Zafer]

And you think this recession will not hit Turkey?


I really wonder who is telling you these fairy tales, there is no job shortage here at all if anything then labor shortage.

I have no more questions.

 

[what]

Shortage of drugs to be solved, says health minister - Türkiye News

The shortage of drugs, experienced by pharmacies as a result of drug companies’ stockpiling to benefit from the increase in prices, will be solved, Health Minister Fahrettin Koca has said.

www.hurriyetdailynews.com

In order to solve the severe shortage, first of all, it is necessary to update the euro-Turkish Lira conversation rate for drug prices, 7.86 Turkish Liras per euro, and make it suitable for economic realities, Saydan urged the authorities.

“We have had problems with many drugs for a long time, but at the moment, we are insufficient even to provide the most basic medicines,” Şeker Pınar Özcan, the head of the Istanbul Chamber of Pharmacists, stated earlier.

 

[Lool]

Positive data came this week tbh
Firstly, Turkey's gross foreign (FX) reserves have been gradually increasing while maintaining the current exchange rate for nearly a month. It reached 84 billion dollars which is the highest recorded figure within a year

Turkey Gross Foreign Exchange Reserves

Foreign Exchange Reserves in Turkey increased to 89730 USD Million in July 5 from 84830 USD Million in the previous week. This page provides the latest reported value for - Turkey Foreign Exchange Reserves - plus previous releases, historical high and low, short-term forecast and long-term...

tradingeconomics.com

https://twitter.com/i/web/status/1603365452536840194

Moreover, Turkey's current account gave its lowest figure in the year amounting to only 350 million dollars; paving the way for possible account surpluses for the remaining 2 months of the year

Bloomberg - Are you a robot?

Turkish industrial growth also picked up steam this month beating the forecast of 0.4

Turkey Industrial Production

Industrial Production in Turkey decreased 0.10 percent in May of 2024 over the same month in the previous year. This page provides the latest reported value for - Turkey Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction...

tradingeconomics.com

Hopefully, it may be the beginning of a period of economic stability and improvement

 

[what]

Current Account deficit going down probably because of the mild winter (less gas consumed) and unexpectedly well tourism, because Europeans are settling in Turkish hotels instead of paying the high gas prices at home. Regardless, good for the economy for once.

 

[Lool]

Current Account deficit going down probably because of the mild winter (less gas consumed) and unexpectedly well tourism, because Europeans are settling in Turkish hotels instead of paying the high gas prices at home. Regardless, good for the economy for once.

Not really
According to Bloomberg, what aided Turkey in acheiving a small current account deficit and possibly a surplus from next month is the huge amount of new Russian accounts in Turkey.

Apparently, many Russian oligarchs are transferring their money from the EU and US to Turkey and many Russian citizens are transferring their savings from Russia to Turkey in order to start a new life in Turkey as well as to escape mobilisation
Although, it does get branded as "tourist money" by Turkey; probably to not get sanctioned by the US

 

[Xenon54]

Shortage of drugs to be solved, says health minister - Türkiye News

The shortage of drugs, experienced by pharmacies as a result of drug companies’ stockpiling to benefit from the increase in prices, will be solved, Health Minister Fahrettin Koca has said.

www.hurriyetdailynews.com

20 years from now people will tell their children how they were waiting in line for medicine.

 

[Baryshx]

20 years from now people will tell their children how they were waiting in line for medicine.

@Zafer
Let Pollyana's missing brother answer this. He can invent an argument to reverse this thought.