TR Economy & Updates

[Bozan]

You're crazy and out of touch, if you think that Erdogan will go for another "2-3 terms". He's 70 years old and his health is deteriorating.

Biden is 81

 

[B_A]

Türkiye sees FDI gaining further pace after $10.6B inflow in 2023

Türkiye saw foreign direct investments (FDI) exceed $10 billion (TL 307.23 billion) throughout 2023, a senior official said Tuesday, stressing indicators...

www.dailysabah.com

https://idsb.tmgrup.com.tr/ly/uploads/images/2024/02/13/314792.jpg



Türkiye saw foreign direct investments (FDI) exceed $10 billion (TL 307.23 billion) throughout 2023, a senior official said Tuesday, stressing indicators that signal the inflow would gain greater momentum this year.
The FDI volume in Türkiye reached $10.6 billion last year, said Burak Dağlıoğlu, the head of the Presidency's Investment Office, charged with encouraging businesses to invest in Türkiye, citing the data published by the country's central bank.

 

[B_A]

Without the rule of law, separation of powers, fundamental rights/freedoms, and democracy nothing good will happen in this economy.
You can bring the most qualified economists in the world from MIT and Harvard they still wouldn't be able to fix the Turkish economy.

Why the debate over a new Turkish constitution?

President Recep Tayyip Erdoğan’s address to Parliament’s opening session focused on his call for a new constitution. Stressing that Türkiye should draft a...

www.setav.org

I'm hoping the new constitution will bring about some change, although lots of people are skeptical, and doubt anything good happening, I disagree.

Erdogan will not run in 2028, so AKP's trump card will be gone, there is no clear candidate for the throne, on the other hand, the opposition has good candidates like Imamoglu and Yavas, with a real possibility of winning in 2028.

The current constitution gives too much power to the executive, is undemocratic, and courts are not impartial. There is no rule of law.
The reason why AKP is currently pushing for a new constitution is to protect themselves after Erdogan is gone, they are worried the likes of Imamoglu will become authoritarian and use the current constitution against them.

Although Erdogan has managed to maintain 50% votes in presidential elections, AKP keeps losing votes in parliamentary elections, this new constitution is preparing for when the castle walls are breached. Let's hope good things come out of this new constitution.

Even had so-call rule of law, separation of powers, fundamental rights/freedoms, and democracy

nothing good happened in EU and Japan and US these years....

 

[Saithan]

TC isbank no longer accepting scandinavian currency and russian rub

 

[Bozan]

https://twitter.com/i/web/status/1757788918156607874

"Our dear brother" is a good development economically at least

 

[Scott Summers]

Türkiye targets $30B trade volume with Saudi Arabia​

Joining Türkiye-Saudi Arabia Investment and Business Forum's gala dinner in Istanbul, Turkish vice president says trade volume stood at $6.8B in 2023, short-term target is $10B.

https://www.trtworld.com/turkiye/turkiye-targets-dollar30b-trade-volume-with-saudi-arabia-17003568

 

[Bozan]

Huge, it's so high they cut the x axis just for Erdogan who is on another level

 

[Scott Summers]

How could food prices raise so high when we have so much local produced food and when the government subsidizes so much farmers with free interest loans ?

 

[Tornadoss]

How could food prices raise so high when we have so much local produced food and when the government subsidizes so much farmers with free interest loans ?

- Fuel price increase => cost increase in farming, cost increase in transportation
- Electric price increase => cost increase in farming, cost increase in markets
- Min wage increase => cost increase in farming, cost increase in markets
- Finally cost increase on products.
Then it's spiral with inflation.

 

[TheInsider]

How could food prices raise so high when we have so much local produced food and when the government subsidizes so much farmers with free interest loans ?

We are feeding 15 million more people on top of our population. ~10 million Syrians and 5 million Africans, Afghans, Iranians, Arabs other than Syrians...etc.

 

[uçuyorum]

We are feeding 15 million more people on top of our population. ~10 million Syrians and 5 million Africans, Afghans, Iranians, Arabs other than Syrians...etc.

And terrible agriculture policy

 

[Huelague]

Most important job of our government is the update the customer union with EU. If this will not happen this year, we have to send Mio‘s of refugee to EU.

 

[Spitfire9]

Turkish citizens should'nt invest in the US dollar if they have a long term vision. Exciting times are coming.

I get your long term view. Short term things look very different

Today's spot rate is 1 USD = 31 lira
1 year forward rate is 1 USD = 44 lira

Figures are rounded.

When is this strengthening of the lira starting? When are the exciting times coming?

 

[Scott Summers]

I get your long term view. Short term things look very different

Today's spot rate is 1 USD = 31 lira
1 year forward rate is 1 USD = 44 lira

Figures are rounded.

When is this strengthening of the lira starting? When are the exciting times coming?

Turkey is de-dollarising the economy. Out of many economic stupidities, the de-dollarisation attempts were the only good things.

Recession in Germany, recession in the UK, lower production and declining purchases of state bonds in the US (means more printwork for the FED).

A debt of 34 trillion, and it dont stop. Paying every year not the debt itself, but only the interest of this debt.

Turkish industrial production and domestic consumption is rising, despite the inflation.

And we dont have failed states on our salarylist for who we pay billions of dollars per year (Israel, Ukraine, Greece etc).

 

[contricusc]

And we dont have failed states on our salarylist for who we pay billions of dollars per year (Israel, Ukraine, Greece etc).

But you have lots of refugees from Syria who are a big burden on your country.

 

[GoatsMilk]

I get your long term view. Short term things look very different

Today's spot rate is 1 USD = 31 lira
1 year forward rate is 1 USD = 44 lira

Figures are rounded.

When is this strengthening of the lira starting? When are the exciting times coming?

It used to be that AK party supporters used to hide behind the economy, the 101 other failures were overlooked because they said but what about the economy. Now they see the economy is totally messed up, a complete failure of governance and its turned into something about secularists hating Islam and Muslims as the last throw of the dice.

total failure of a government and only goes to show why religion and politics shouldn't be mixed. Otherwise a nation gets easily blindsided and screwed. This is partly why i can't take anyone serious who talks about things massively improving for Turkey these past 20 years. Total nonsense.

The bad news is the government has no answers, they are just riding out this failure hoping that eventually everyone comes to accept it as part of daily life. In many ways thats exactly what is happening, the people of Turkey are accepting this failure.

But when its easy for the leader to gloss over the failure chanting and i shit you not, "They have the dollar but we have Allah" you know your done, its just a process that has to meet its natural conclusion. The joke of course is erdogan has plenty of dollars.

At least the Palestinians don't chant "they have the F35 but at least we have Allah".

 

[IC3M@N FX]

It used to be that AK party supporters used to hide behind the economy, the 101 other failures were overlooked because they said but what about the economy. Now they see the economy is totally messed up, a complete failure of governance and its turned into something about secularists hating Islam and Muslims as the last throw of the dice.

total failure of a government and only goes to show why religion and politics shouldn't be mixed. Otherwise a nation gets easily blindsided and screwed. This is partly why i can't take anyone serious who talks about things massively improving for Turkey these past 20 years. Total nonsense.

The bad news is the government has no answers, they are just riding out this failure hoping that eventually everyone comes to accept it as part of daily life. In many ways thats exactly what is happening, the people of Turkey are accepting this failure.

But when its easy for the leader to gloss over the failure chanting and i shit you not, "They have the dollar but we have Allah" you know your done, its just a process that has to meet its natural conclusion. The joke of course is erdogan has plenty of dollars.

At least the Palestinians don't chant "they have the F35 but at least we have Allah".

I see, and what was it like before the yeni lira? Back then, Turkish money was only worth toilet paper. You must have forgotten the good old days, 1 dollar was worth how much? 1000000 lira or the devil knows, where children went to school with rubber shoes and torn T-shirts in southeast Anatolia or sold Sweets, Sümit & Cola to make ends meet for their families, every second or third child.
Yes, everything used to be much better.....
I was happiest every year when I visited Turkey with my family as a child. The long bus rides that took 6-8 hours on unpaved roads from Istanbul because there were virtually no airports in southeast Anatolia.
The shitty rest stops with toilets that stank to high heaven, and the expired food in the supermarkets, restaurants with moldy food that gave me the runs every year no matter where I went in Turkey.
Not to mention the fact that there were more horse-drawn carts than cars in the villages and small towns that were used to transport goods from A to B.
That was not so long ago, in the 80s and 90s.
Of course, people only see Istanbul, Izmir, Antalya, Ankara, Trabzon & Co as a benchmark.... and somehow nobody really seems to care about progress in the heartland. I know because I've seen it every year like a time lapse.
And that was the mistake of the previous policy, for decades nobody cared about the heartland, not even the CHP.

The AKP has modernized and restructured the country and its main voters come from these regions.
Which shows that the previous parties simply didn't do their homework.

 

[Scott Summers]

But you have lots of refugees from Syria who are a big burden on your country.

They get paid in Turkish Lira's, not in euros of dollars like the millions of refugees in the West.

 

[B_A]

I see, and what was it like before the yeni lira? Back then, Turkish money was only worth toilet paper. You must have forgotten the good old days, 1 dollar was worth how much? 1000000 lira or the devil knows, where children went to school with rubber shoes and torn T-shirts in southeast Anatolia or sold Sweets, Sümit & Cola to make ends meet for their families, every second or third child.
Yes, everything used to be much better.....
I was happiest every year when I visited Turkey with my family as a child. The long bus rides that took 6-8 hours on unpaved roads from Istanbul because there were virtually no airports in southeast Anatolia.
The shitty rest stops with toilets that stank to high heaven, and the expired food in the supermarkets, restaurants with moldy food that gave me the runs every year no matter where I went in Turkey.
Not to mention the fact that there were more horse-drawn carts than cars in the villages and small towns that were used to transport goods from A to B.
That was not so long ago, in the 80s and 90s.
Of course, people only see Istanbul, Izmir, Antalya, Ankara, Trabzon & Co as a benchmark.... and somehow nobody really seems to care about progress in the heartland. I know because I've seen it every year like a time lapse.
And that was the mistake of the previous policy, for decades nobody cared about the heartland, not even the CHP.

The AKP has modernized and restructured the country and its main voters come from these regions.
Which shows that the previous parties simply didn't do their homework.

AKP has ruled For 22 years

More and more youth don’t know the era before AKP.these 5-6 year is too bad

 

[IC3M@N FX]

AKP has ruled For 22 years

More and more youth don’t know the era before AKP.these 5-6 year is too bad

Then people have not understood the principle of the economy and its rules; after every upswing comes a period of recession.
This can sometimes last a decade.
Look at Japan after the boom of the 70-80s, the country was in a permanent recession that was very slow to recover.
Young people are also responsible for themselves, if everyone just studies business administration and wants to become a bank manager or IT administrator, then they shouldn't be surprised.
In Turkey there are many vacancies in the defense industry, in medicine and in logistics, you just have to think left and right.
I'm not saying it's easy, but there are jobs in Turkey.