TR Economy & Updates

[B_A]

Türkiye-China forum to focus on Belt and Road Initiative

The 4th Türkiye-China Communications Forum will be held in Istanbul to discuss the first decade of the Belt and Road Initiative on Wednesday.Organized...

www.dailysabah.com

Alibaba tells Erdogan it plans to invest $2 billion in Turkey

Chinese e-commerce giant Alibaba Group Holding Ltd has told Turkish President Tayyip Erdogan it plans to invest $2 billion in Turkey.

www.reuters.com

Always force me to use the article of Sabah

 

[B_A]

Whatever our feeling or Think differently

The Islam-mainly world and Russia should be our economic focus.

The Arabic countries are very rich in capital and manpower and energy.

Our industrial products must find our share in Arabic countries.

Russian is declining in population but they can provide us energy and space/nuclear technology.

Turkic world still too little and weak.

The western and East Asia market are almost full.

I know many Turks hate the idea of" Islam world" or "middle East" but we have to develop our business in this area for our future.

 

[Saithan]

Interest rates for deposit accounts expected to rise after new regulation​

ANKARA​

Local lenders are likely increase the interest rates they offer for deposit accounts after the Central Bank’s move this week to boost the Turkish Lira deposits, according to sources.


Interest rates on deposits may climb toward 50 percent, they said.

The Central Bank this week sent instructions to local lenders according to which it raised from 2 percent to 2.5 percent the targeted monthly rise in the share of lira deposits in total deposits as part of efforts to make lira more attractive.

“Banks will have no other option but hike interest rates on deposits. If the rates climb towards 50 percent, holding foreign currencies will lose their appeal to investors,” the sources said, adding that interest rates at around 50 percent level will also help people shield themselves against inflation.

The annual inflation rate moved up to 58.9 percent in August from 47.8 percent in July.

The interest rates for 3-month term deposits have been rising gradually since early August when they stood at around 28 percent.

According to data from the Central Bank, the interest rates for 3-month deposits rose from 37.59 percent on Sept.1 to 40.87 percent as of Sept. 8.

The Central Bank in August started to roll back the FX-protected deposit account scheme, also known as KKM.

After the bank’s move on KKM, interest rates for deposit accounts had been expected to climb towards 40 to 45 percent. However, this did not really happen as lenders started to offer different rates, depending on the size of the accounts, to deposit holders, who wanted to move their money from KKM to regular deposit accounts.

“After the Central Bank’s instruction this week, people, irrespective of the size of their deposits with lenders, will be able to receive 45 to 50 percent interest rates for their deposits. They will probably not have to negotiate the interest rates with their banks,” the sources said.

Interest rates for deposit accounts expected to rise after new regulation - Latest News

Local lenders are likely increase the interest rates they offer for deposit accounts after the Central Bank’s move this week to boost the Turkish Lira deposits, according to sources.

www.hurriyetdailynews.com

I guess the aim is to slowly move towards the inflation and then start battling it ?

The government probably can't pull the bandbreak in fear of crippling peoples life from one day to another. so CB needs to go at it slowly, but steadily.

 

[Bozan]

Interest rates for deposit accounts expected to rise after new regulation​

ANKARA​

Local lenders are likely increase the interest rates they offer for deposit accounts after the Central Bank’s move this week to boost the Turkish Lira deposits, according to sources.


Interest rates on deposits may climb toward 50 percent, they said.

The Central Bank this week sent instructions to local lenders according to which it raised from 2 percent to 2.5 percent the targeted monthly rise in the share of lira deposits in total deposits as part of efforts to make lira more attractive.

“Banks will have no other option but hike interest rates on deposits. If the rates climb towards 50 percent, holding foreign currencies will lose their appeal to investors,” the sources said, adding that interest rates at around 50 percent level will also help people shield themselves against inflation.

The annual inflation rate moved up to 58.9 percent in August from 47.8 percent in July.

The interest rates for 3-month term deposits have been rising gradually since early August when they stood at around 28 percent.

According to data from the Central Bank, the interest rates for 3-month deposits rose from 37.59 percent on Sept.1 to 40.87 percent as of Sept. 8.

The Central Bank in August started to roll back the FX-protected deposit account scheme, also known as KKM.

After the bank’s move on KKM, interest rates for deposit accounts had been expected to climb towards 40 to 45 percent. However, this did not really happen as lenders started to offer different rates, depending on the size of the accounts, to deposit holders, who wanted to move their money from KKM to regular deposit accounts.

“After the Central Bank’s instruction this week, people, irrespective of the size of their deposits with lenders, will be able to receive 45 to 50 percent interest rates for their deposits. They will probably not have to negotiate the interest rates with their banks,” the sources said.

Interest rates for deposit accounts expected to rise after new regulation - Latest News

Local lenders are likely increase the interest rates they offer for deposit accounts after the Central Bank’s move this week to boost the Turkish Lira deposits, according to sources.

www.hurriyetdailynews.com

I guess the aim is to slowly move towards the inflation and then start battling it ?

The government probably can't pull the bandbreak in fear of crippling peoples life from one day to another. so CB needs to go at it slowly, but steadily.

Rich people will make so much money

 

[Saithan]

Rich people will make so much money

Rich people has always been able to manage. Even during different governments, it's the hard working worker class that gets raped when governments decide to follow fatah morgana or their religious belief.

 

[Bozan]

https://twitter.com/i/web/status/1704489244691997149

Wow

 

[uçuyorum]

https://twitter.com/i/web/status/1704489244691997149

Wow

I thought we found gas for real this time Need to invest in wind and solar, and without foreign financing, as fast as we can.

 

[Rooxbar]

Rich people love inflation much more than high interest rates, reason being they can take out loans much easier and turning big loans into profit in inflationary environment is quite simple.

 

[Rodeo]

https://twitter.com/i/web/status/1704814588535943381

 

[Bozan]

https://twitter.com/i/web/status/1704814588535943381

Ensuring our place as number 1 bread consumers in the world, congratulations dünya lideri Erdogan

https://twitter.com/i/web/status/1704478223688413343

 

[B_A]

Why I even bought a dus setleri also from China?

American imports Chinese good because of the high production cost.but didn’t our salary and cost lower than Chinese now?

 

[Xenon54]

Why I even bought a dus setleri also from China?

American imports Chinese good because of the high production cost.but didn’t our salary and cost lower than Chinese now?

View attachment 61394

Because nobody can produce those products for that price with that quality in those quantities, depending on what brand you buy you even get equal or even superior quality to western brands who btw also produce in china.

 

[Bozan]

https://twitter.com/i/web/status/1706204889368412182

Pump and dump while screwing the population

 

[Xenon54]

https://twitter.com/i/web/status/1706204889368412182

Pump and dump while screwing the population

I dont wanna be that guy but i fucking told you so, throwing money at the problem as if Trukey was a rich country wont work. And even then there were people defending this stupid policy.
Now see the Lira getting in a free fall.

 

[Bozan]

https://www.argusmedia.com/en/news/2493351-iraqturkey-oil-pipe-restart-not-imminent-iraqi-source?amp=1

So Turkey bankrolled the KRG and in return was getting a percentage of oil sales to be paid back for the loan. Seems they were never fully paid back because the pipeline stopped. Supposedly a 50 year deal.

Turkey, Iraqi Kurdistan agree on ‘50-year energy accord’ - Latest News

KRG Prime Minister Nechirvan Barzani says Turkey and his administration have signed a 50-year deal to export Kurdish oil, but the accord does not mean the divison of the country

www.hurriyetdailynews.com

Another financial layer hinders the restart of 470,000 b/d flows — around 400,000 b/d sold by the KRG and 70,000 b/d of federal Iraqi crude — from Turkey's Ceyhan port, according to the source.

"The Turks have loaned the Kurds a certain sum of money. It seems like payback used to happen through Turkey getting a certain share from Kurdish crude exports through the Iraq-Turkey pipeline," the source said. And Turkey wants the money, he said.

 

[No Name]

Looks like Türkiye's economy is finally starting to recover and is expected to do so by 2026.

 

[what]

If Simsek and the Central Bank are allowed to do whats right. And that's a big if.

 

[fushkee]

The problem itself cannot be the source of the solution!

 

[Bozan]

https://twitter.com/i/web/status/1711340364878021103

Eurasianist idiots

 

[BalkanTurk90]

New economy information by IMF updated on 10 octember
Turkiye passed Netherland and S arabia now economy GDP 1.15 trillion .
The next countries to pass because of low their population and smaller % of economy increase will be
1- Spain 2-Austalia 3- Canada 4- Italy
5- S Korea .
Next 10 years we can be in 12- place if everything goes great .