TR Economy & Updates

[Nilgiri]

Why on earth would he borrow from the IMF when all what he should do is just increase the interest rates?
I do believe that sooner or later, Erdo will raise the white flag and increase the interest rates but I do remember watching a video where he says that he will never ever borrow from the IMF ever again

Its actually the first thing the IMF will ask and likely require.

Increase your interest rates and show good faith to stabilise the monetary policy side of things.

Then we can approach what is the actual fiscal need below it (since this needs stable monetary policy resolution).... and the terms for assistance on that (i.e what you ought to reduce subsidy on, increase tax on and liquidate any assets to provide enough leverage buffer for repayment schedule)

I sincerely doubt Erdogan admin is receptive to doing this process...doesn't suit their politics.

Like you say it would signal a major defeat from earlier position....for starters.

 

[what]

Erdogan has been bragging about how he paid of IMF debt for a decade now, it will be a hard pill to swallow. Most likely only after successful re-elections.

 

[GoatsMilk]

The economy won't get better with RTE in charge. He is a liability, a hindrance and a burden on this nation's wellbeing. RTE and his policies are responsible for every single issue we are facing. Crying about "outside forces" again will only fool the dumbest of citizens.

Even KK would be preferable, at least refugees would be forced to leave and the economy would start to recover. If he is sh*t too, then he will get kicked out after his first term. RTE wants to rule until his death. The head of this anaconda needs to be cut, other snakes will be easier to deal with.

I just hope AK party faces independent courts when the deceptions and manipulations fail to work. These thieves and charlatans i hope don't flee Turkey with the billons they stole from the state.

 

[Manomed]

Funnily the ones who support erdo here are either arabs or muslims from third world countries lol.

 

[borchadinho]

I just hope AK party faces independent courts when the deceptions and manipulations fail to work. These thieves and charlatans i hope don't flee Turkey with the billons they stole from the state.

And everyone who took part in the "peace process", who were talking about "federalization". Including current terror mongers. We need stricter terror laws.

 

[GoatsMilk]

And everyone who took part in the "peace process", who were talking about "federalization". Including current terror mongers. We need stricter terror laws.

the "peace process" was an act of treason from top to bottom. Basically a sign that the USA/Britian had massive influence and control over AK party and Erdogan. Lots of Muslim majority states have been fooled in the last few hundreds years and they were crushed under their ignorance. Many of them got to enjoy a few hundred years under Christian dominance. When you talk to many these people today, they laugh at the truth and blindly believe the lies and deceptions.

 

[GoatsMilk]

Erdogan has been bragging about how he paid of IMF debt for a decade now, it will be a hard pill to swallow. Most likely only after successful re-elections.

Was just a refinancing trick. Taking debt from another sources and using it pay original debt. This is why after 20 years of his rule the economy is an absolute mess. Had he been good, 20 years of his rule would have turned Turkey into a stable and strong economy.

 

[Lool]

https://twitter.com/i/web/status/1545404074098675714

Mod edit using twitter translate:

While the number of guaranteed vehicles on the Osmangazi Bridge in the 6-month period of this year was exceeded, the guarantee traffic coverage ratio was 114%. (NTV)

 

[Nilgiri]

https://twitter.com/i/web/status/1545404074098675714

Please post english translation for this. Its english language forum.

EDIT: I just added it. Members must add english to non-english tweets etc.

 

[Bogeyman]

Funnily the ones who support erdo here are either arabs or muslims from third world countries lol.

https://twitter.com/i/web/status/1547119187797106689

You think so?

 

[Rodeo]

https://twitter.com/i/web/status/1547119187797106689

You think so?

It's very convenient to talk about export records without mentioning faster growing imports, right? And what about the most important metric of all? The percentage of high-technology exports? Selling carpets and furnitures in bigger volumes is not that groundbreaking as some of us claims here. You want me to give credit where it's due? Then tell me what is the percentage of high technology exports compared to twenty years ago. How are we doing on that front?

 

[Lool]

It's very convenient to talk about export records without mentioning faster growing imports, right? And what about the most important metric of all? The percentage of high-technology exports? Selling carpets and furnitures in bigger volumes is not that groundbreaking as some of us claims here. You want me to give credit where it's due? Then tell me what is the percentage of high technology exports compared to twenty years ago. How are we doing on that front?

Not really
Imports are growing rapidly mainly due to sky-rocketing energy prices. Excluding gas, and Turkey is already recording a decent current account surplus and a nice trade balande surplus in most months

Turkey doesnt import a wider range of products than the last year; in fact, Turkey imprts less products and are nationalising more products with the aim of further exports. What Turkey needs is an exchange currency stability at a level that will ensure cheap gas prices yet still competitive to the international market and such a thing can never be feasible when Turkey exports billions of cubic metres of gas annually. The main chronic problem in Turkey is that it is way too gas-dependent that even a mild sneeze (internationally) can lead to instability within the country's financial exchange

Why on earth do you think that the West, Russian, Israelis, and Greeks dont want Turkey to have anything in the Med Sea? It is because this will literally solve the most fundamental rpoblem within Turkey

 

[Rodeo]

Not really
Imports are growing rapidly mainly due to sky-rocketing energy prices. Excluding gas, and Turkey is already recording a decent current account surplus and a nice trade balande surplus in most months

Turkey doesnt import a wider range of products than the last year; in fact, Turkey imprts less products and are nationalising more products with the aim of further exports. What Turkey needs is an exchange currency stability at a level that will ensure cheap gas prices yet still competitive to the international market and such a thing can never be feasible when Turkey exports billions of cubic metres of gas annually. The main chronic problem in Turkey is that it is way too gas-dependent that even a mild sneeze (internationally) can lead to instability within the country's financial exchange

Why on earth do you think that the West, Russian, Israelis, and Greeks dont want Turkey to have anything in the Med Sea? It is because this will literally solve the most fundamental rpoblem within Turkey

So many words for evading one simple question. How are our high-tech export rates compared to twenty years ago?

 

[TheInsider]

Things won't go well for Turkiye in the short to medium term. We should first need to avoid bankruptcy as it is a real threat right now. Exports don't magically double over a year and energy dependency and high energy prices don't magically disappear. Our foreign trade breaks even more or less if we don't count payments for energy(Oil/Gas). We could have financed this easily but we are paying an insane amount of foreign currency for state guarantees of the construction projects. The Turkish problem is a foreign currency problem. The remaining days of this year and next year will be critical. I think we will be in a very good place after 2025-2026. We have a lot of investments that will directly influence the imports like the Blacksea Gas field or a colossal petrochemical facility in Adana.

BTW interesting statistics from Chinese economy.

CHINA JUNE EXPORTS RISE 17.9% Y/Y IN DOLLAR TERMS; EST. 12.5% (%5.4 over the estimates)
CHINA JUNE IMPORTS RISE 1.0% Y/Y IN DOLLAR TERMS; EST. 4.0% (%3 under the estimates)
It seems like the Chinese economy did great in June. I expect China to grow more as the EU shrinks. If Russia continues the oil/gas embargo EUR/USD will fall to 0.80 in the short to medium term.

 

[Agha Sher]

So many words for evading one simple question. How are our high-tech export rates compared to twenty years ago?

I would argue that the share is increased rapidly. Do you have statistics to disprove my assumption?

 

[B_A]

Things won't go well for Turkiye in the short to medium term. We should first need to avoid bankruptcy as it is a real threat right now. Exports don't magically double over a year and energy dependency and high energy prices don't magically disappear. Our foreign trade breaks even more or less if we don't count payments for energy(Oil/Gas). We could have financed this easily but we are paying an insane amount of foreign currency for state guarantees of the construction projects. The Turkish problem is a foreign currency problem. The remaining days of this year and next year will be critical. I think we will be in a very good place after 2025-2026. We have a lot of investments that will directly influence the imports like the Blacksea Gas field or a colossal petrochemical facility in Adana.

BTW interesting statistics from Chinese economy.

CHINA JUNE EXPORTS RISE 17.9% Y/Y IN DOLLAR TERMS; EST. 12.5% (%5.4 over the estimates)
CHINA JUNE IMPORTS RISE 1.0% Y/Y IN DOLLAR TERMS; EST. 4.0% (%3 under the estimates)
It seems like the Chinese economy did great in June. I expect China to grow more as the EU shrinks. If Russia continues the oil/gas embargo EUR/USD will fall to 0.80 in the short to medium term.

Btw I think Chinese Communist use fake data.their economy was very bad due to the crazy lockdown policy.
Also think they didn't count the Russian oil and gas.
Chinese trade date showed their import was lower than last year's,that s impossible that oil and gas and materials price so high.

US and China full of bubbles and fake data

 

[Lool]

So many words for evading one simple question. How are our high-tech export rates compared to twenty years ago?

Obviously higher
I know many are hating on Erdo and the AKP due to the current economic situation but lets not forget that the guy ruked Turkey for nearly 2 decades for a reason

Idk how on earth are ppl comparing the Turkish economy of now with the stagnant Turkish economy back before Erdo's rule. The guy has his faults but also his merits

High-tech exports from Turkey have seen a gradual rise to reach 4 billion dollars by 2020; in 2010, for example, it was around 2 billion dollars. If you cou0le that with the currency devaluation of that period (2012-2020) then I will say that Turkish high tech exports are sky-rocketing

I said it before, but while I respect those who criticise any sort of wrongdoing; but too much hatred and you will only look at the empty portion of the cup while leaving the full half only to regret it in the future

Turkey High-technology exports, 1960-2023 - knoema.com

In 2022, high-technology exports for Turkey was 6,814 million US dollars. Though Turkey high-technology exports fluctuated substantially in recent years, it tended to increase through 2008 - 2022 period ending at 6,814 million US dollars in 2022. High-technology exports are products with high...

knoema.com

High-technology exports (% of manufactured exports) - Turkiye | Data

High-technology exports (% of manufactured exports) - Turkiye from The World Bank: Data

data.worldbank.org

Turkey High tech exports - data, chart | TheGlobalEconomy.com

Turkey: High technology exports: For that indicator, we provide data for Turkey from 2007 to 2022. The average value for Turkey during that period was 3503.8 million U.S. dollars with a minimum of 1587.64 million U.S. dollars in 2009 and a maximum of 6814.96 million U.S. dollars in 2022. The...

www.theglobaleconomy.com

 

[B_A]

Things won't go well for Turkiye in the short to medium term. We should first need to avoid bankruptcy as it is a real threat right now. Exports don't magically double over a year and energy dependency and high energy prices don't magically disappear. Our foreign trade breaks even more or less if we don't count payments for energy(Oil/Gas). We could have financed this easily but we are paying an insane amount of foreign currency for state guarantees of the construction projects. The Turkish problem is a foreign currency problem. The remaining days of this year and next year will be critical. I think we will be in a very good place after 2025-2026. We have a lot of investments that will directly influence the imports like the Blacksea Gas field or a colossal petrochemical facility in Adana.

BTW interesting statistics from Chinese economy.

CHINA JUNE EXPORTS RISE 17.9% Y/Y IN DOLLAR TERMS; EST. 12.5% (%5.4 over the estimates)
CHINA JUNE IMPORTS RISE 1.0% Y/Y IN DOLLAR TERMS; EST. 4.0% (%3 under the estimates)
It seems like the Chinese economy did great in June. I expect China to grow more as the EU shrinks. If Russia continues the oil/gas embargo EUR/USD will fall to 0.80 in the short to medium term.

actually,i think we were very unlucky(the world too) in these years

After 15 Temmuz,Our economy was not bad in 2019 thay we are nearly get surplus

but suddenly Covid and ukraine war came side by side and ruined everythings

 

[B_A]

i dont want to defend AKP but this ten years is a very hard period for any place of the world.

 

[Yasar_TR]

Check this map and see how small our economy is now. How much it has shrunk while how much everyone else has grown.
Few years ago we were ahead of Iran, Netherlands, Poland, Taiwan, Indonesia and Saudi Arabia. Target 15 years ago was to reach 30000 dollars per person nominal by 2023. That would have meant 2.5 trillion dollar economy now.