The arguable apex parameter of any developing and/or middle income country these days (in being able to pool, absorb and disperse what it was and is behind in) is FDI. This sets the sustained delta change in larger capital formation and investment structure and leveraging. This matters a lot in 5, 10, 20 year time blocks.
This stuff is largely govt and corporate sector influenced (these are the only structures in economy with the requisite vertical level and reach). There needs to be firm understanding and communication between them to develop good strategy in competitive world. The laypeople (consumers and small businesses etc) pool in behind the buffer of success afforded by such apex and its basic immediate consequential domino chains.
If we look at Turkey, it has been very suboptimal in the 2010 - 2020 decade, especially from about 2015 onwards:
Can also be seen here in more graph form:
https://unctadstat.unctad.org/CountryProfile/GeneralProfile/en-GB/792/index.html
There was an accelerated bump from early era of AKP admin to about 2007 where it hit 22 billion USD (in those dollars back then too).
Then came 08 crisis globally and level withdrew to below 10 billion in 2009 - 2010, which is understandable.
There was a slower recovery to previous level (20 billion USD) to about 2015 and then major decline to today (probably initially driven by the 2016 coup) where it has now dropped to below 8 billion USD.
Portfolio investment (like FII) as you can see few rows below the highlighted one has taken a huge beating as well (flows now idling around 0 and there was just way too much reliance on debt instruments for it in previous years to kickstart it). This has affected Turkey Market Cap seriously in recent years (which sets lot of other confidence and borrowing potential patterns and yields needed).
There simply has not been commensurate attention paid by current Turkish admin/establishment to the innermost core of onion so to speak.
Without that core squared away as it should be (given Turkey inherited development level, location and institutional robustness at the time), arguing over outermost "laypeople" layers of onion (which are simply most visible and easier to criticize) is detrimental and disingenuous. They are folks responding to the whole mess with the resources and decisions at their disposal. This is global phenomenon, so I never blame the laypeople....at least before the litany of deeper issues done by elitists and power-freaks.
So it is not surprising multiple members (many of whom I respect in that they know what they are talking about) have brought up the corruption issues, level of nepotism and institutional degradation that act as major levers against the reform a govt (in general anywhere) needs to do to hold and build confidence for savings and investment in 10 year blocks.....that Turkey govt. has dropped ball on in the recent decade.
The damage will actually last a long while here from inertia (less than 8 billion FDI for 750 billion GDP is simply awful), even with a new administration taking over potentially. It will take a full term, maybe two.... of course correction in structural reform (not tinkering and face saving), institutional rebuilding, basic fair legal confidence restored and developed by best minds in Turkey (and Turkey has plenty, they need to be put in proper positions again).
It might not be till like 2027 or even 2030 onwards we see Turkish economy get structurally sound again with good trajectory commensurate to its inheritance and underlying fundamentals.
As I have mentioned before, I give credit to AKP w.r.t previous decade (2000 - 2010)....but the next decade has seen quite the reversal.
I feel blaming civilians/laypeople over the political parties/elitist is a copout. When you (set of elitists) get the power, you must wield it responsibly and rationally (on matters of most core concern to everyone). You will have whatever segment of population fanboying over whatever theatrics-polarisation you harness (par for the course globally) and of course the reverse....but there is serious stuff to deal with professionally behind it if you truly care about your nation. It gets out of hand, then you both lose power in worst way possible and also damage the nation fundamentals for long time....no matter what promise/new beginning you started out with.
