The bright side of Turkish economy: we make stuff. Like, a lot of stuff. Dark side is mismanagement, low productivity and a huge black sector. Hope it gets better.
Net foreign reserves are 30 billion and if you include swaps it surpasses 50 billion dollars
rbt-defense.blogspot.com
While I understand your arguement, and would support it, IF our people weren't a bunch of opportunist pricks, who'd overprice everything and cheat tourists for as much as possible. And then whine when Greek prices are cheaper and probably treat tourists better.
Are you serious?
BTW even in the worst time,the GDP of Turkey still in growth and without any decline within these years.
Turkey was not on the verge of bankruptcy. The problem was high inflation, not a balance of payments crisis. Things would have to be really weird for a country to become bankrupt with such a low debt to GDP ratio.
Without Şimşek, we'd be royally fucked. He has managed the crisis masterfully within his purview. But still @Deliorman's point stands that since he cannot touch the rent, wasteful overspending for useless stuff, giving huge contracts to their tarikat-holdings for 3x the reasonable price, and huge amounts of corruption in myriad ministries, he had to resort to over-taxation, and his taxation schemes were mostly on expenditure by middle-income families.
Bro, if Erdogan didnt reverse course when he was 74 billion dollars in debt, the country would have exploded
Its true that he resorted to over taxation as one of the means to regenerate income. However, lets not forget how he started to go after the mega corporations who were embezzeling money and failing to pay billions in taxes
huh? we have like some of the highest VATs in the world.
VATs?
VAT plus Özel Tüketim Vergisi
when you buy electronics .
