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Who is the new MoF
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He has been resigning for months, finally accepted by Erdogan.
And islamist guy who supports low interest low import low external debt low trade deficit scheme.![]()
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Hazine ve Maliye Bakanı Lütfi Elvan görevinden istifa etti. Yerine Cumhurbaşkanı kararı ile Nureddin Nebati atandı. Karar Resmi Gazete'dewww.veryansintv.com
Who is the new MoF
View attachment 36598
Why does the TL have to get back to 2-3 TL per USD ? That is a wrong misconception and wrong way of thinking.Turkey needs to get back to 2 or 3 lira per USD exchange rate. That's the only way the economy will recover.
"B-b-but the trade deficit!"
Exports aren't doing anything anyway, Turkey's total growth is still in very minor percentages if you don't count recovery from the coronavirus-inflicted damage. Import costs are through the roof which makes it more difficult to acquire foreign expertise and manufacture higher-quality products. You won't build a powerhouse economy on selling fabrics and other basic goods.
At this point, I'm genuinely thinking that Erdogan is trying to damage Turkey while on his way out. Which means that he must meet the same fate as Menderes.
1 USD for 2 TRY?! This would be worse than the current situation.Turkey needs to get back to 2 or 3 lira per USD exchange rate. That's the only way the economy will recover.
"B-b-but the trade deficit!"
Exports aren't doing anything anyway, Turkey's total growth is still in very minor percentages if you don't count recovery from the coronavirus-inflicted damage. Import costs are through the roof which makes it more difficult to acquire foreign expertise and manufacture higher-quality products. You won't build a powerhouse economy on selling fabrics and other basic goods.
At this point, I'm genuinely thinking that Erdogan is trying to damage Turkey while on his way out. Which means that he must meet the same fate as Menderes.
Imports are still high.
Even a non turk knows better about Turkish economy then so called economy expert akp supporters hereTo 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?
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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.
Yeah lets starve to death we buy everything from outside with dollars and euros1 USD for 2 TRY?! This would be worse than the current situation.
It's because people are buying all kinds of imported goods before it gets too expensive.
Because of our affinity for foreign stuffs. We deserve no better. Erdogan must lift up exchange rate to 1€ - 20 Lira.1 USD for 2 TRY?! This would be worse than the current situation.
It's because people are buying all kinds of imported goods before it gets too expensive.
But my question will be that we also have to find aditional 200 billion dollars for a year to pay our (private and public sector) foreign dept. (total dept:500 billion usd) Why nobody talks about this issue ?? Does anyone have an idea ?
So I think we will have to ask for foreign exchange anyway unless we have 600 billion usd export and 400 billion usd import which is pretty much impossible for a long period.
Because of our affinity for foreign stuffs. We deserve no better. Erdogan must cut exchange rate to 1€ - 20 Lira.
Just spend the money you actually have in your bank account, okay? This is why I will never vote for CHP and other Kemalist parties. They act as if the common Turk is incredibly wise and knows how to spend and invest his or her money. This is not the case.Yeah lets starve to death we buy everything from outside with dollars and euros
10000 year old ottoman economical ideology lets live in palaces while Turks suffer because of our idiotcy
Thank You!Just spend the money you actually have in your bank account, okay? This is why I will never vote for CHP and other Kemalist parties. They act as if the common Turk is incredibly wise and knows how to spend and invest his or her money. This is not the case.
Our people love to show off, to spend their money on foreign goods like Bosch washing machines even though the Turkish equivalent is cheaper and equally good. They still are going to choose the foreign brand for the sake of boasting and making the neighbors jealous.
All of them are in debts, all of them don't care about tomorrow, almost every single one in Turkey outright sees working as something bad or dirty. They don't have no work ethics or moral compass. They wait in line for the next credit, mortgage, installment even though they know precisely that paying back is simply not possible.
Whatever happens to them economically, they deserve worse.