TR Economy & Updates

[Anmdt]

Turkish central bank slashes key policy rate to 14%

Turkey’s central bank cuts its benchmark policy rate for the fourth consecutive time on Thursday, in line with market expectations.The key policy rate...

www.dailysabah.com

Erdoğan speaks at 15:00 (UTC+3) , hold your breathe for a few more minutes.

 

[Saithan]

Doesn't really matter. The economy is going to take another dive when he opens his mouth. it may hit 16 TL = 1 USD. 20 TL per USD isn't unrealistic for 2021.

 

[Ravenman]

Good news. The minimum wage is now 4250 per month, thats a 50% increase.

 

[Khagan1923]

Good news. The minimum wage is now 4250 per month, thats a 50% increase.

Welcome to hyperinflation.
Anyone with an inch of knowledge about economics knows what is about to happen to Turkeys economy.

and it will not be pretty.

 

[Anmdt]

Good news. The minimum wage is now 4250 per month, thats a 50% increase.

450 compensated by government by eliminating taxes on minimum wage (which is wise, which is something people have been asking for years but got it now for sake of elections),

Which means; middle and up-middle income layer is paying that 450 lira for the minimum wage (how do you think government will compensate the tax loss?) , also means TR is being converted into minimum wage earner's country in whole where nobody will have moderate life standards.

The current level surpasses nurse salaries, salary of temporary teachers and some other workers deployed by the state. You study for 4 years, + MSc + PhD and start working in an university as Assist. Prof. and you will earn nearly or less than twice of the minimum wage.

Elections are in June, that is for sure.

 

[Turko]

What about pensioners?

What about people who trusted in Türkish Lira and kept their deposits in TL and lost their saving thanks to the government?

 

[Khagan1923]

450 compensated by government by eliminating taxes on minimum wage (which is wise, which is something people have been asking for years but got it now for sake of elections),

Which means; middle and up-middle income layer is paying that 450 lira for the minimum wage (how do you think government will compensate the tax loss?) , also means TR is being converted into minimum wage earner's country in whole where nobody will have moderate life standards.

The current level surpasses nurse salaries, salary of temporary teachers and some other workers deployed by the state. You study for 4 years, + MSc + PhD and start working in an university as Assist. Prof. and you will earn nearly or less than twice of the minimum wage.

Elections are in June, that is for sure.

I think we will see 1$=20 Lira soon. Playing around with numbers doesn’t change a thing. The common men and women will be in the same spot they were in again in a couple days because most firms and companies will now hike the price again to counter act the raising of the minimum wage while the Lira is losing value every minute.
We are entering hyperinflation. And once you pass through that door there is no easy way back.

But then again the ruling party or man I should say doesn’t care about it. This is another half assed idea from his “advisors” that he okayed. This period of Turkey’s history will serve as a lesson in the future about what happens when people with no education or experience get appointed to positions of power and then undertake decisions Willy nilly.

 

[Manomed]

Just woke up because I have flu
Economy seems more f...d zams are coming they shouldn't have raised the wage because everything will be more expensive now

 

[TheInsider]

By the end of next year dollar, TL ratio will be at least 30TL. I expect the dollar to gain at least %100 over TL next year. And a dollar TL ratio of 20 will be achieved in the near future no further than a few months in to the 2022.

 

[Ravenman]

450 compensated by government by eliminating taxes on minimum wage (which is wise, which is something people have been asking for years but got it now for sake of elections),

Which means; middle and up-middle income layer is paying that 450 lira for the minimum wage (how do you think government will compensate the tax loss?) , also means TR is being converted into minimum wage earner's country in whole where nobody will have moderate life standards.

The current level surpasses nurse salaries, salary of temporary teachers and some other workers deployed by the state. You study for 4 years, + MSc + PhD and start working in an university as Assist. Prof. and you will earn nearly or less than twice of the minimum wage.

Elections are in June, that is for sure.

Lol! You really think that professor in Turkey earns nearly or less than twice the minimum wage? If you think that than you dont live in Turkey.

 

[Rodeo]

By the end of next year dollar, TL ratio will be at least 30TL. I expect the dollar to gain at least %100 over TL next year. And a dollar TL ratio of 20 will be achieved in the near future no further than a few months in to the 2022.

we would be lucky if we didn't cross 20TL this year. There's no mechanism left(assuming no dramatic interest rate hike) to stop it's rise. Sky is the limit.

At the beginning of this year, it was 7.43 TL. Now it's 15.7 TL. That's %111 rise in a year.

 

[Fighter_35]

Lol! You really think that professor in Turkey earns nearly or less than twice the minimum wage? If you think that than you dont live in Turkey.

You still have face to talk??

 

[Ravenman]

What about pensioners?

What about people who trusted in Türkish Lira and kept their deposits in TL and lost their saving thanks to the government?

The era of the Golden Lira is coming. Fiat money is gone, gold and crypto are the future. Max Keiser warned us before that the dollar is crashing big like the big crash before World War I.

Turkey will turn to golden lira's and silver dinar's. Thats why the Central Bank imported a lot of gold each year.

And Turkish society are the greatest goldkeepers of the world.

Now again the dollar and the euro and the stock markets worldwide will crash, combine this with international increase of oil and transport prices and World War 3 is coming.

 

[Ravenman]

You still have face to talk??

Why? What happened?

 

[Fighter_35]

Why? What happened?

Milletle dalga geçmeyi bırak ,millet açlıktan kırılıyor, bir ay sonra gelecek zamlardan sonra yine asgari ücret 200 doların altına ja inacek gelmiş hala burda saçmalıyorsun.

You still defend decisions of akp, that is why I am asking you still have face to post here!! Minimum wage will be below 200 USD again in 1-2 months!!

 

[Manomed]

The era of the Golden Lira is coming. Fiat money is gone, gold and crypto are the future. Max Keiser warned us before that the dollar is crashing big like the big crash before World War I.

Turkey will turn to golden lira's and silver dinar's. Thats why the Central Bank imported a lot of gold each year.

And Turkish society are the greatest goldkeepers of the world.

Now again the dollar and the euro and the stock markets worldwide will crash, combine this with international increase of oil and transport prices and World War 3 is coming.

Too much reading A haber Turko can't buy anything with his worthless money but saying dollar will crash It will crash on turkey

 

[Manomed]

Milletle dalga geçmeyi bırak ,millet açlıktan kırılıyor, bir ay sonra gelecek zamlardan sonra yine asgari ücret 200 doların altına ja inacek gelmiş hala burda saçmalıyorsun.

You still defend decisions of akp, that is why I am asking you still have face to post here!! Minimum wage will be below 200 USD again in 1-2 months!!

You are right Im a student we are literally all eating makarna nothing else I was about to get kicked out from my house because of money problems but these akpions are making fun of us

 

[Anmdt]

Lol! You really think that professor in Turkey earns nearly or less than twice the minimum wage? If you think that than you dont live in Turkey.

Memur Maaş Hesaplama - Kadro Derecesi 1 olan Doçent Maaşı - Memurlar.Net

1. derece, 1. kademe Kadro Derecesi 1 olan Doçent maaşı.

www.memurlar.net

Calculate projected salary in 2022 January here; These are calculated for 1/1 level which is nearly impossible to reach before the age of 50. Lower the wages by 500 for 4/4

Married (unemployed wife) with no kid Assoc. Prof. working for 11 years makes 10700 lira, not married no kids; 10200 lira.
Twice the minimum wage is 8500 lira. An Assoc. Prof. earns only ~20% more than twice the minimum wage.

Married (unemployed wife) with no kid Assist. Prof. working for 11 years makes 9500 lira, not married no kids; 9000 lira.
Twice the minimum wage is 8500 lira. An Assoc. Prof. earns only ~7% more than twice the minimum wage.

Also note, these people will receive less salary in certain months because of the tax, minimum wage is free of income tax now.

The ratio used to be 3 to 4 times in past years for Asssit and Assoc Prof., above 4 for the Prof.

Compare anywhere else in the world if anyone has gained title of assoc, assist prof is receiving less than 3 or 4 times of the minimum wage.

Just contacted a Research Assistant friend, she earns about 7900-8000 and expected 8500~ in January with the raise just twice the minimum wage after an education of 4 + 2 + ongoing PhD.

How to scare educated people and repel them away to abroad so that you can mark your win in elections with the ones you have raised the minimum wage well above lacking a graduate level degree; 101.

 

[HTurk]

Lira crisis and unpaid government bills threaten Turkish medical importers

Turkey's medical equipment suppliers have seen the value of their unpaid government bills soar 50% in the last three months to 9 billion lira ($658 million) and the lira meltdown is piling further pressure on the import-reliant sector, its chief said.

www.reuters.com

 

[Ravenman]

Too much reading A haber Turko can't buy anything with his worthless money but saying dollar will crash It will crash on turkey

The biggest crash is coming. The bubble cant be bigger anymore. The US has more national debt than whole the world combined. The FED and the European Central Bank are printing toiletpaper money like there is no tomorrow. The American inflation (6.8%) and the European inflation (5.2%) are daily increasing and they are also pushing Turkish inflation.

Turkey is preparing a monetary union with Azerbaidjan and Kazachstan and maybe Qatar (not sure), Erdogan is devaluating the lira so that Turkey had no choice otherwise than joining the new monetairy union with one valuta.