TR Economy & Updates

[Constan]

We need our guy to stfu before rebuilding trust.

 

[KKF 2.0]

SHUT UP FOR ONCE!!!

 

[adenl]

SHUT UP FOR ONCE!!!

This?

https://twitter.com/i/web/status/1356296599991951360

 

[KKF 2.0]

This?

https://twitter.com/i/web/status/1356296599991951360

"Enflasyon hedefine birlikte ulaşalım ama yüksek faizle asla bu mümkün değil. Düşük faizle bu işi başarabiliriz"

From today.

 

[the]

"Enflasyon hedefine birlikte ulaşalım ama yüksek faizle asla bu mümkün değil. Düşük faizle bu işi başarabiliriz"

From today.

He said it before, but now his words don't seem to have such an effect on the market. If he really was keen on low interest rates then he would never of fired Albayrak.

Turkey appoints new deputies for treasury and wealth fund - official gazette

Turkey's president has appointed Cengiz Yavilioglu and Sakir Ercan Gul as deputy ministers to the Treasury Ministry, according to the country's official gazette on Saturday.

www.reuters.com

He continues to make changes even though doesn't personally support them.

 

[KKF 2.0]

India...crazy.

 

[Nilgiri]

India...crazy.

We had nearly 8% contraction though, so there is a springbound from low base coz of that.

Effectively we will grow maybe 3 - 4% over 2 years (as net growth, so maybe 2% per year averaged out).....a huge setback.

 

[Zafer]

IMF has the picture.

 

[Zafer]

Basic math

India was down 8% the year before and will go up 11.5% this year.
100 - 8 = 92*1.115 - 100 = 2,58 % 0ver two years.

 

[Ryder]

The contribution of Covid to Getir and such companies is quite huge.

Dont forget yemeksepeti

 

[Saithan]

Turkish banks post $8.4 billion profit in 2020 - Latest News

The combined net profit of Turkish banks amounted to 59.97 billion Turkish Liras (around $8.4 billion) in 2020, up from the previous year’s net income of 49 billion liras, the country’s banking watchdog (BDDK) has said.

www.hurriyetdailynews.com

 

[KKF 2.0]

We had nearly 8% contraction though, so there is a springbound from low base coz of that.

Effectively we will grow maybe 3 - 4% over 2 years (as net growth, so maybe 2% per year averaged out).....a huge setback.

I know but not all economies are able to bounce back like that. Growth is not granted just because you're poor. There are plenty of bad examples all around the world. It's still impressive.

 

[Nilgiri]

I know but not all economies are able to bounce back like that. Growth is not granted just because you're poor. There are plenty of bad examples all around the world. It's still impressive.

True, but India is in a broader inflection point where it has put a huge amount of floorboards underneath it...that it can reliably use to leverage if a challenge presents itself.

Gross capital formation (% of GDP) has been:

above 20% steadily for more than 40 years now.

above 30% for more than 15 years now

peaked above 40% for about 5 years (till effects of 2008 world crisis kicked in).

This more or less mirrors savings rate as % of GDP which has been above 20% of GDP for about 30 years...and is now at about 30% of GDP in recent years (after peaking near 40% at same time as above).

This means in 2019 for example (just before covid year of 2020), India saved (and able to use for investment) near 1 trillion USD.

As an integral of total wealth, India is estimated near 15+ trillion USD as of 2020 (Credit suisse)

i.e approaching 20k per adult.

India in the year 2000 (to compare with same report)....was around 1.2 trillion USD total wealth and about 2k per adult.

So about 10 time increase of ready leverage power in just 20 years.

This can be seen in the total market cap being around 2.2 trillion USD before corona hit, and it increased to near 2.7 trillion today because of reduced regular economic activity instead diverting and saving up there (which will be leveraged this year and next).

Thus a 10%+ growth is really totally expected for this year given what we have to tap into that is accumulated.

It is why savings rate and GCF is really the innermost onion layer any country must look to develop robustly....past GDP (which is just trying to sum up the outermost layer of it).

These numbers cannot afford to be single digit or in low teens...as the country just becomes reliant on consumption (and no investment) at a low base level and it is just ravaged by inflation and exchange rates when it comes to GDP and other numbers.

This process in India's case (being able to start for 2021) thankfully has been helped by vaccine development expedience in the world, which India will provide 60%+ of the capacity for the world too....about 3 - 4 billion or more doses for world this year.

What the growth setting after this shake + rebound will be the more significant number for India, but there has been some good start at more reforms in the recent budget.

@VCheng @Indos @Madokafc

=====================================================================

BTW, this is why I chuckle at people (well just one person tbh thankfully) that spams " " to cringily try mock our country (on any serious post even) in our subforum...and are quick to hit thumbs up at anything they think gives a short dopamine feel (for them) at a setback for us.

They are how shall we say, deficient in a larger proper understanding of the matter...among likely other things.

 

[Ryder]

Credit where its due the Turks know how to hang on and find something to keep growth.

 

[Huelague]

Basic math

India was down 8% the year before and will go up 11.5% this year.
100 - 8 = 92*1.115 - 100 = 2,58 % 0ver two years.

What?
-8%+11,5%= 3.5% : 2 (years )= ~1.8 %

 

[Huelague]

IMF has the picture.

Where is Greece?

 

[Zafer]

Where is Greece?

I didn't prepare the chart, it is made by IMF.

 

[Zafer]

What?
-8%+11,5%= 3.5% : 2 (years )= ~1.8 %

You don't add growth numbers, you multiply them because they are percentages of another number. While we are at it let's take the square root of 2.58 and find 1.6% as the yearly growth of the Indian economy spread over two years. I don't know what the regular is for India but this number should be somewhat lower as the world economy is slow.

 

[dBSPL]

The highest export record for all January months was broken. 15 billion 48 million dollars. Turkey Exporters council chairman says that it is possible to exceed 200 billion dollars in the year scale. We still have a long way to go. We cannot speak of a production economy as 90 million people-country without doubling these numbers roughly.

 

[Huelague]

The highest export record for all January months was broken. 15 billion 48 million dollars. Turkey Exporters council chairman says that it is possible to exceed 200 billion dollars in the year scale. We still have a long way to go. We cannot speak of a production economy as 90 million people-country without doubling these numbers roughly.

They just quote the numbers, without putting it in any relation. Pure propaganda. $500 billion export is a good number. With a trade surplus, of course.