TR Economy & Updates

[Mustafa27]

I'm more interested in if Türkish economy is in G20 next year . Because currently we are out of the club .

Where does it say that you need to be in the top 20 for membership?

 

[what]

There won't be a strong middle class without strong companies. In fact, without strong companies, there will be no economy.

Medium-sized and family-owned companies are usually best for Stakeholders and a good middle class with a good income. Once companies reach the size of Koc, Sabanci and the likes they usually only ever care about shareholder value.

This is just my personal observation.

 

[Turko]

Where does it say that you need to be in the top 20 for membership?

Ohh sorry, i though we were a country of 80million people. Obviously we are a Nordic country.

 

[Mustafa27]

Ohh sorry, i though we were a country of 80million people. Obviously we are a Nordic country.

I asked u a simple question yet u reply with sarcasm. All u had to was say that there is no requirement. Oh well to the ignore list you go.

 

[TheInsider]

Last 12 month exports (October 2020-october2021) stands at 215.7 billion $ (a yearly increase of %29)
BTW the export/import ratio without the energy imports is %119 for this month. The biggest problem in our economy is energy (gas&oil) which is why IMHO thorium molten salt reactor project should have number one priority and we should heavily invest in EV transition not just for cars but also for trucks and tractors.

 

[HTurk]

Turkey's exports break monthly record with $20.8B in October

Breaking its monthly record, Turkey's exports hit $20.8 billion in October, the trade minister said on Monday.Turkish exports rose 20.2% year-on-year...

www.dailysabah.com

 

[Xenon54]

There won't be a strong middle class without strong companies. In fact, without strong companies, there will be no economy.

The backbone of major european aconomies are not big corporations but small and medium sized companies and the middle class thats working in them.
You on the other hand promote the slave culture in Turkey where big corporations employ people at the lowest wages.

 

[Tornadoss]

Turkey hikes natural gas prices for power plants, industry by 47-48%

Turkey raised the price of natural gas used by power plants by 47% and the price of gas used by industry by 48%, while consumer gas prices remained unchanged, the state energy company Botas said on Monday.

www.reuters.com

Natural gas prices are increased by 48% for the industry and electricity producers. Even though, for consumers it's not increased, this will affect electricity and other prices.

@Corona what is funny here?

 

[Huelague]

Turkey is not importing electricity, its importing gas and oil and guess what those power plants use to generate electricity...
We can build more dams but that also has its limits.

I dont say electricity.

 

[Huelague]

No, thats where ypu guys are wrong, the most important are the tax paxing middle class, you want to destroy a economy? Destroy the middle class as AKP does.

Dont fix on German "Mittelstand" to much. Turkey is not Germany.

 

[what]

Turkey plans wage hikes, tax cuts for low-income families hit by inflation

Turkey's government is preparing to boost wages and cut some taxes to support lower-income households that are battling high inflation, according to two senior officials familiar with the plan to tap the country's relatively strong budget.

www.reuters.com

Government is working on tax cuts and wage hikes for low-income families, which is long overdue. Apparently the hikes and cuts are supposed to offset the inflation.


But again, if wages rise (of course depends on how much and how many people are affected) and people get more money, companies will have to raise their prices and thus the inflation spiral will continue.

 

[Huelague]

Again, we should not compare Turkey with EU countries like Germany. They pay 1/3 of income to rent a flat. We not.

 

[Rodeo]

Turkey plans wage hikes, tax cuts for low-income families hit by inflation

Turkey's government is preparing to boost wages and cut some taxes to support lower-income households that are battling high inflation, according to two senior officials familiar with the plan to tap the country's relatively strong budget.

www.reuters.com

Government is working on tax cuts and wage hikes for low-income families, which is long overdue. Apparently the hikes and cuts are supposed to offset the inflation.


But again, if wages rise (of course depends on how much and how many people are affected) and people get more money, companies will have to raise their prices and thus the inflation spiral will continue.

Or they could(companies) lay some of the workers off.

 

[HTurk]

The backbone of major european aconomies are not big corporations but small and medium sized companies and the middle class thats working in them.
You on the other hand promote the slave culture in Turkey where big corporations employ people at the lowest wages.

Dont fix on German "Mittelstand" to much. Turkey is not Germany.

In addition to what you've said:

1.: It's simply a question of how you define "medium sized companies" aka "Mittelstand". Some scientific sources (e.g. IfM Bonn) claim that 99% (!) of all German companies are part of the so called Mittelstand while other sources state that 2/3 of the German GDP is produced by big, global corporates.

2.: Big companies are the real drivers of innovation and technological change. Many highly successfull economies around the globe are dominated by multinational enterprises (South Korea, China, the US, India and many more).

3.: When it comes to production, you have to be big. Export-oriented economies and countries with a large manufacturing sector are usually dominated by big enterprises. Small and mid-sized companies are strong in construction, trade and services.

4.: Germany, Switzerland and the Netherlands are countries with a long history of industrialization. It is quite normal to have many mid-sized companies when you had plenty of time to grow and thrive. However, you cannot catch up with small and mid-sized enterprises nor can you build a strong industrial base. It is no coincidence that economies like China, South Korea, Taiwan, even India, are dominated by very large companies.

To sum it up, what xenon wrote is a very Western European mindset. What works for Germany, doesn't necessarily works for Turkey or China or India or Brazil or Indonesia.

​

 

[Anastasius]

In addition to what you've said:

1.: It's simply a question of how you define "medium sized companies" aka "Mittelstand". Some scientific sources (e.g. IfM Bonn) claim that 99% (!) of all German companies are part of the so called Mittelstand while other sources state that 2/3 of the German GDP is produced by big, global corporates.

2.: Big companies are the real drivers of innovation and technological change. Many highly successfull economies around the globe are dominated by multinational enterprises (South Korea, China, the US, India and many more).

3.: When it comes to production, you have to be big. Export-oriented economies and countries with a large manufacturing sector are usually dominated by big enterprises. Small and mid-sized companies are strong in construction, trade and services.

4.: Germany, Switzerland and the Netherlands are countries with a long history of industrialization. It is quite normal to have many mid-sized companies when you had plenty of time to grow and thrive. However, you cannot catch up with small and mid-sized enterprises nor can you build a strong industrial base. It is no coincidence that economies like China, South Korea, Taiwan, even India, are dominated by very large companies.

To sum it up, what xenon wrote is a very Western European mindset. What works for Germany, doesn't necessarily works for Turkey or China or India or Brazil or Indonesia.

​

Question, HTurk: Where do you think those big-size companies came from?

Small to mid-size companies, that's where. Which are absolutely crucial to propping up the industrial base in places which are not major population centers or government darlings. Most of Turkey's growth is concentrated in the north-west - eastern Thrace to be more specific. I can give you a direct example from the US, where focusing on big corporation growth at the expense of smaller ones pretty much killed the industrial sector in the US (i.e. Detroit), which is why we are now even exporting the building of US weapon systems to the likes of Mexico.

Germany, Switzerland and Netherlands only have like a 50 year head-start on industrializing before Turkey did. That really isn't that long and if Turkey had leaders that invested in proper economic policies, it would've caught up years ago. In fact, it was on track to do so around the early 2000s, where it was keeping pace with Poland, which pursued the exact same policy as Turkey does now (trying to become the manufacturing hub of Europe), except they got something like 200 billion from the EU to help them through that process. Except Poland is now way ahead of Turkey, mainly because they didn't shoot themselves in the foot. Their main issue today is demographics, which is also something that Turkey will be facing 30-40 years from now, if not earlier.

The current economic strategy is trying to shortcut a healing process for an injury that was self-inflicted and possibly making it worse.

 

[Turko]

Again, we should not compare Turkey with EU countries like Germany. They pay 1/3 of income to rent a flat. We not.

Here in Istanbul minumum rent 2500 while minumum wage is 2900.

İn Anatolia flats are cheaper because there is no jobs

 

[Xenon54]

Dont fix on German "Mittelstand" to much. Turkey is not Germany.

It obviously isnt, i wish it was but yeah..

 

[Turko]

https://twitter.com/i/web/status/1455545365210583052

ENAGRUP - Information Research Group

We are calculating Turkey's monthly, weekly, daily and hourly (high frequency) inflation. Also offer materials/alternative workings for academicians and relevant stakeholders.

enagrup.org

 

[Xenon54]

I dont say electricity.

I never said you said.

 

[Nilgiri]

Turkey plans wage hikes, tax cuts for low-income families hit by inflation

Turkey's government is preparing to boost wages and cut some taxes to support lower-income households that are battling high inflation, according to two senior officials familiar with the plan to tap the country's relatively strong budget.

www.reuters.com

Government is working on tax cuts and wage hikes for low-income families, which is long overdue. Apparently the hikes and cuts are supposed to offset the inflation.


But again, if wages rise (of course depends on how much and how many people are affected) and people get more money, companies will have to raise their prices and thus the inflation spiral will continue.

One can pump more blood through clogged arteries....doesnt fix the clogging much tho...you just get more pressure and localised blood velocity....but that does not do much good to the body.

Declogging arteries.....needs structural reform stuff.....the only one I see here is the tax rate cut on lower brackets (so long as it doesnt create more debt by increasing the budget deficit).

Money is circulated far more efficiently (in most cases) by the people in the end...compared to govt. Especially for the individual's personal responsibility + economic matters of day to day.

A govt must have extremely good reason to take money from people (the purpose must be collective public welfare, security, infra, justice oriented and be well designed + managed on it)