TR Economy & Updates

[Hexciter]

The resignation of Albayrak has been accepted by Presidency

 

[Hexciter]

New minister is “Lütfi Elvan”

 

[Saithan]

Lütfi Elvan appointed as new finance minister - Türkiye News

Lütfi Elvan has been appointed Turkey’s new treasury and finance minister, according to a presidential decree published in the Official Gazette early on Nov. 10.

www.hurriyetdailynews.com

We're going to dig us out of this situation.

They waited a whole day for the damn announcement as I can see it, ridiculous!

Albayrak is fleeing to UK. Wasn't one of RTE son's in Italy ?

Albayrak, Londra'da finans kuruluşlarının yöneticileriyle görüştü

Hazine ve Maliye Bakanı Berat Albayrak, Londra'da 15 trilyon dolar büyüklüğünde varlık yöneten, dünyanın en büyük finans kuruluşlarından 11'inin başkan ve üst düzey temsilcileri ayrı ayrı görüşmeler gerçekleştirdi.

tr.sputniknews.com

I wonder if it's true, I read yesterday he was looking for an apartment.

 

[Gary]

Turkish lira soars by the most in over two years after surprise sacking of central bank governor at the weekend​

 

[Saithan]

 

[Hexciter]

Production of our domestic electric tractor has been started. (Minister of Agriculture and Forestry; Pakdemirli)

https://twitter.com/i/web/status/1326256698739351552

 

[uzaysan]

New minister is “Lütfi Elvan”
View attachment 6024

LOL

 

[Zafer]

Turkish lira soars by the most in over two years after surprise sacking of central bank governor at the weekend​

So the reason was not the announcement of the new vaccine found by Biontech and Pfizer?

 

[Saithan]

So the reason was not the announcement of the new vaccine found by Biontech and Pfizer?

I don't think we can rule out some impact of it. But I don't see why it should have such a big impact on Turkey, unless BionTech has decided vaccine production in Turkey is a must and the second one by Pzifer (in US).

 

[Zafer]

I don't think we can rule out some impact of it. But I don't see why it should have such a big impact on Turkey, unless BionTech has decided vaccine production in Turkey is a must and the second one by Pzifer (in US).

It has its effect on gold prices. It is an indication that the pandemic will be curbed and will not last too long. Which in turn means economies can recover and there is a hope to get back to full openness of the prepandemic normal in a few years. Although the vaccine requires -70 to -80 °C keeping temperature which is not widely available among hospitals that means difficulties in widespread application. Also the American elections have barely ended and its consequences are still being weighted. So you never know how much of what causes causes the market levels.

 

[Saithan]

Production of our domestic electric tractor has been started. (Minister of Agriculture and Forestry; Pakdemirli)

https://twitter.com/i/web/status/1326256698739351552

Video in Turkish about agriculture, support etc.

Technology is going to increase efficiency, reduce manpower need etc.

But are electric vehicles really good for heavy duty ?

no charging station needed because it's built-in... eh... charging time kind of depends on ampere.

 

[mulj]

Video in Turkish about agriculture, support etc.

Technology is going to increase efficiency, reduce manpower need etc.

But are electric vehicles really good for heavy duty ?

no charging station needed because it's built-in... eh... charging time kind of depends on ampere.

it is future, good to be first on that train regardless initial flaws and deficencies.

 

[Saithan]

it is future, good to be first on that train regardless initial flaws and deficencies.

I wonder how they've solved the battery issue during winter.

 

[Reviewbrah]

Very important initiative, ministry could buy electric tractors and lease them to the farmers, at least in the beginning to motivate transition towards renewable energy. One other thing ministry should do to build solar, wind energy vehicle charging stations in the farming towns. This should motivate private companies to build their own electric vehicles and other ventures such the charging stations.

 

[Saithan]

Turkey’s new finance minister vows market-friendly changes​

BY DAILY SABAH WITH AGENCIES​

ISTANBUL ECONOMY
NOV 10, 2020 6:22 PM GMT+3

Treasury and Finance Minister Lütfi Elvan at the ministry headquarters in the capital Ankara, Turkey, Nov. 10, 2020. (AA Photo)


Turkey’s new Treasury and Finance Minister Lütfi Elvan promised on Tuesday to implement market-friendly changes and improve the investment environment for international and domestic entrepreneurs while using all tools to tackle inflation.

In his first remarks since being sworn into Parliament on Tuesday, Elvan said strengthening institutions was important and fiscal discipline would be maintained through realistic risk management.
"Turkey will resolutely support the fight against inflation and raise public finance quality by maintaining fiscal discipline," Elvan said.

The period ahead, he added, will be a period of recovery where the impacts of the pandemic decrease and new opportunities are formed.

"In this framework, while strengthening macroeconomic stability, we will focus on a market-friendly transformation program that includes micro reforms," Elvan said.


He said that foreseeability in legislation, especially tax regulations, will be increased.
Elvan, 58, has replaced Berat Albayrak, who resigned late Sunday citing health concerns, and President Recep Tayyip Erdoğan officially accepted Albayrak's resignation Monday.

"I talked to Mr. Albayrak. I thanked him for his services to our nation to date. He also wished success for us," he said, speaking to reporters in Parliament ahead of the swearing-in ceremony, adding that there would be no handover ceremony due to Albayrak’s health issues.

Regarded as a capable technocrat, Elvan served in various ministerial posts in previous governments.
Elvan served as deputy prime minister from 2015 to 2016. He also held the posts of minister for development and minister of transportation, maritime affairs and communication.

Before taking the position, he was serving as chairperson of the Parliament's Planning and Budget Committee.

Elvan has a bachelor's degree in mining from Istanbul Technical University's (ITÜ) Faculty of Mines, a master's degree in mining operations and research from Leeds University in the U.K. and a second master's degree in economics from U.S.-based Delaware University.

He also held various positions within international institutions such as the Organisation for Economic Co-operation and Development (OECD) and the European Union.

Elvan said that the main aim of the economic policy is to increase growth and employment.
The country, in cooperation with all relevant parties, will take the necessary steps to increase predictability in legislation and to improve the investment environment for both domestic and international entrepreneurs, he noted.

“We will increase our domestic production capacity by ensuring that the production process is transformed into a structure that is geared toward exports, that is innovative and has a decreased dependence on imports,” Elvan added.

Erdoğan said earlier Tuesday that Turkey is in a "historic struggle" against those seeking to shackle it with high interest rates, inflation and exchange rates.

Turkey’s new finance minister vows market-friendly changes

Turkey’s new Treasury and Finance Minister Lütfi Elvan promised on Tuesday to implement market-friendly changes and improve the investment environment...

www.dailysabah.com

 

[Saithan]

 

[uzaysan]

View attachment 6167

This numbers are still to higg. For example in the august usd/try was 7.32. Then president announced a big suprise(natural gas discovery) and ıt fall down to 7.10 in few days. Its so dissapointing our money lost this much value in just 2 months.

 

[Bogeyman]

Turkish exporters face new customs delays in Morocco, Algeria

Turkish companies say they are facing new delays in exporting textiles and clothing to North African countries. Morocco, in particular, has amended a trade...

www.dailysabah.com

I kinda like the import/export numbers that's what it should always be. So we can reduce our debt to 0.

If the missing papers/documents are true, then turkish business ppl should make sure everything is in order. So that part can't be used as an excuse.

https://twitter.com/i/web/status/1326237352080138241

Ruhsar Pekcan Trade Minister, announced that Turkey will start negotiations on the Free Trade Agreement with Algeria soon.

 

[Saithan]

Lütfi! Lütfi! Lütfi!

This is the best Economic decision RTE has made in newer times. Hoping this downward trend will continue.

 

[Saithan]

Turkey eases swap limits with foreign lenders - Latest News

Turkey's banking watchdog on Nov. 11 raised currency limits for swap, forward, option, and other derivative transactions that Turkish lenders execute with non-residents.

www.hurriyetdailynews.com