TR Economy & Updates

[Lool]

Turkey limits export of raw materials for furniture - Latest News

Turkey has started implementing limitations on exports of some raw materials of furniture, including flakeboard, oriented strand board, fiberboard and some types of wood.

www.hurriyetdailynews.com

I think this idea has merit. Reduce export of raw material and shift towards semi-products or even products. I'll cross fingers for this to work. I hope limit on food products will be introduced as well. Except conservated stuff in can etc.

This may be a good sign as companies may give priority to domestic suppliers which will limit imports, and increasing exports by reducing their prices

 

[Saithan]

https://twitter.com/i/web/status/1401870745903550473

https://twitter.com/i/web/status/1400784885313376256

https://twitter.com/i/web/status/1400784064374882304

https://twitter.com/i/web/status/1400783281361149952

https://twitter.com/i/web/status/1400722067444715521

Those are some impressive numbers. But like with the raw material to furnitures I think our ministry etc. should/are aware that we may lose 3,5 B USD by exporting 500 mio USD raw material.

So I really hope/wish that we're covered domestic need before exporting excess goods.


Corruption like this:

70 milyonluk yolsuzluk! Suriye’den alınan arpa ve buğday depoya girmemiş

Şanlıurfa Toprak Mahsulleri Ofisi’nde (TMO) yolsuzluk yapıldığı iddialarına ilişkin TMO Şanlıurfa Şubesi Müdür Yardımcısı Abdurrahman

www.veryansintv.com

Şanlıurfa Soil Products Office (TMO) claimed that barley and wheat were bought from Syria to Turkey, but these crops did not enter TMO's warehouses and there was over 70 million corruption. Within the scope of the lawsuit filed, Abdurrahman Bağlı, the Deputy Director of TMO Şanlıurfa Branch, the brother of former AKP Deputy Mazhar Bağlı, was arrested.​

 

[Saithan]

Danish energy firms eye Turkey as pandemic disrupts supply chains

An increasing number of Danish companies have their radars locked on Turkey as a regional hub for sourcing and exporting renewable energy sector products...

www.dailysabah.com

 

[Blank1]

https://twitter.com/i/web/status/1401870745903550473

https://twitter.com/i/web/status/1400784885313376256

https://twitter.com/i/web/status/1400784064374882304

https://twitter.com/i/web/status/1400783281361149952

https://twitter.com/i/web/status/1400722067444715521

Please post with english translation

 

[Saithan]

Turkish government’s gross debt stock at $235 bln - Latest News

The Turkish central government's gross debt stock amounted to 1.95 trillion Turkish liras ($235 billion) as of the end of April, official figures showed on June 8.

www.hurriyetdailynews.com

The Turkish central government's gross debt stock amounted to 1.95 trillion Turkish liras ($235 billion) as of the end of April, official figures showed on June 8.

The figure was up 23.7% from the same period last year, according to data from the Treasury and Finance Ministry on Monday.

The gross debt stock includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households.

While 1.12 trillion Turkish liras ($135.1 billion) of the debt was domestic, some 829.54 billion liras ($100 billion) was external, it added.

Some 43.1% of the total debt was in Turkish liras, while the rest is in foreign currencies.

Data also showed that the stock of Treasury receivables totaled 18.13 billion liras ($2.2 billion) as of the end of April.

The central government's external debt payments totaled $6.1 billion during the first four months of the year, while domestic payments amounted to 162.5 billion Turkish liras ($21.4 billion).

The US dollar/Turkish lira exchange rate was 8.19 at the end of April and 7.57 on average during the first four months of this year.

 

[Zafer]

Turkish government’s gross debt stock at $235 bln - Latest News

The Turkish central government's gross debt stock amounted to 1.95 trillion Turkish liras ($235 billion) as of the end of April, official figures showed on June 8.

www.hurriyetdailynews.com

The Turkish central government's gross debt stock amounted to 1.95 trillion Turkish liras ($235 billion) as of the end of April, official figures showed on June 8.

The figure was up 23.7% from the same period last year, according to data from the Treasury and Finance Ministry on Monday.

The gross debt stock includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households.

While 1.12 trillion Turkish liras ($135.1 billion) of the debt was domestic, some 829.54 billion liras ($100 billion) was external, it added.

Some 43.1% of the total debt was in Turkish liras, while the rest is in foreign currencies.

Data also showed that the stock of Treasury receivables totaled 18.13 billion liras ($2.2 billion) as of the end of April.

The central government's external debt payments totaled $6.1 billion during the first four months of the year, while domestic payments amounted to 162.5 billion Turkish liras ($21.4 billion).

The US dollar/Turkish lira exchange rate was 8.19 at the end of April and 7.57 on average during the first four months of this year.

Turkish central government only has $100bn external debt. This should be paid off whenever possible. It is not much as it is.

 

[Lool]

Turkish central government only has $100bn external debt. This should be paid off whenever possible. It is not much as it is.

Certainly, compared to the might of G20 economies, an external debt of 100 billion dollars is nothing. However, the lira is under significant pressure these days, thus in order to pay the 100 billion dollars, the government must pay around 850 billion liras in equivalence which is a lot tbh
Turkey should concentrate on paying the debts and then devalue the lira
Iam one of those who believe the lira should be devalued but only when the main supplements of life are purely domestic which turkey didnt completely achieve yet!


Iam not saying currency devaluation is a bad thing; it has both merits and demerits yet one must ensure to keep a balance between the two
But with the current state turkey is in, I feel that RTE is using the pandemic to try different economic strategies which is good move as it will minimise the losses but it will still be at the expense of the state and the ppl

 

[Saithan]

Certainly, compared to the might of G20 economies, an external debt of 100 billion dollars is nothing. However, the lira is under significant pressure these days, thus in order to pay the 100 billion dollars, the government must pay around 850 billion liras in equivalence which is a lot tbh
Turkey should concentrate on paying the debts and then devalue the lira
Iam one of those who believe the lira should be devalued but only when the main supplements of life are purely domestic which turkey didnt completely achieve yet!


Iam not saying currency devaluation is a bad thing; it has both merits and demerits yet one must ensure to keep a balance between the two
But with the current state turkey is in, I feel that RTE is using the pandemic to try different economic strategies which is good move as it will minimise the losses but it will still be at the expense of the state and the ppl

Not going to happen, RTE has too many projects that he can't relent. So just watch the debt is going to increase. Not going to bother with his AKP people who're sucking the bone marrow through these hand-me-out projects.

 

[Saithan]

Küçük çocuğun 'hayalin nedir' sorusuna cevabı bu olmamalıydı

Z HABER’in sokak röportajında yaşanan diyalog kısa sürede sosyal medyada gündem oldu. Muhabir'in 'hayalin nedir?' sorusuna

www.veryansintv.com

Kid playing and singing on the street to be able to bring food home to his family, Zonguldak. Not everyone has social network or capable of living on fumes.

 

[Xenon54]

Turkish central government only has $100bn external debt. This should be paid off whenever possible. It is not much as it is.

Certainly, compared to the might of G20 economies, an external debt of 100 billion dollars is nothing. However, the lira is under significant pressure these days, thus in order to pay the 100 billion dollars, the government must pay around 850 billion liras in equivalence which is a lot tbh
Turkey should concentrate on paying the debts and then devalue the lira
Iam one of those who believe the lira should be devalued but only when the main supplements of life are purely domestic which turkey didnt completely achieve yet!


Iam not saying currency devaluation is a bad thing; it has both merits and demerits yet one must ensure to keep a balance between the two
But with the current state turkey is in, I feel that RTE is using the pandemic to try different economic strategies which is good move as it will minimise the losses but it will still be at the expense of the state and the ppl

What you guys dont get it is that those big nations with good credit rating get loans basically free while Turkey pays way higher interest rates, Turkey doesnt have that high debt because it cant afford it, Turkey would be bankrupt if it came anywhere near close to rich nations debt rates.

 

[Saithan]

Turkey’s Black Sea natural gas to open for future trading by Oct.

The natural gas deposits discovered in the Black Sea by Turkey will be available for trading in the futures gas market set to be launched within a few...

www.dailysabah.com

Interesting estimated value of the gas is 100 B usd. Does that mean RTE is planning to use the gas as collateral to indebt Turkey even further ? RTE and AKP are probably going to build a drilling rig or platform and pawn off the natural gas in exchange for money here and now for their projects.

I imagine that this could be the way to finance the canal istanbul and through state guarentees. Leaving no room for wiggling once elections are held in 2023. The partied coming to power will have to tighten policies and financial aid become unpopular.

 

[Lool]

Turkey’s Black Sea natural gas to open for future trading by Oct.

The natural gas deposits discovered in the Black Sea by Turkey will be available for trading in the futures gas market set to be launched within a few...

www.dailysabah.com

Interesting estimated value of the gas is 100 B usd. Does that mean RTE is planning to use the gas as collateral to indebt Turkey even further ? RTE and AKP are probably going to build a drilling rig or platform and pawn off the natural gas in exchange for money here and now for their projects.

I imagine that this could be the way to finance the canal istanbul and through state guarentees. Leaving no room for wiggling once elections are held in 2023. The partied coming to power will have to tighten policies and financial aid become unpopular.

If AKP did that, it would ge a wrong move tbh
They should use it for bargaining with russia and leave it stored in case of emergencies
Lets see what happens in OCT

 

[Zafer]

What you guys dont get it is that those big nations with good credit rating get loans basically free while Turkey pays way higher interest rates, Turkey doesnt have that high debt because it cant afford it, Turkey would be bankrupt if it came anywhere near close to rich nations debt rates.

Turkish state does not need more debt as there is no such need. It is the private sector that can use more debt but we don't need that either as there isn't much that we can't do with our own resources. It is better to take it easy investing as only innovation should be invested in. For the case of unemployment it is very expensive to create jobs for the high paying professions. It is only the agriculture sector that can create a big amount of jobs and it is being addressed accordingly.

 

[Blank1]

Turkish state does not need more debt as there is no such need. It is the private sector that can use more debt but we don't need that either as there isn't much that we can't do with our own resources. It is better to take it easy investing as only innovation should be invested in. For the case of unemployment it is very expensive to create jobs for the high paying professions. It is only the agriculture sector that can create a big amount of jobs and it is being addressed accordingly.

As you talked about agriculture one member here posted earlier that large sum of money in spent on importing seeds for cultivation for a country like Turkey it is not good.
I am told on this same thread that there is no institute in Turkey to produce seeds locally or do research in the respective field.
Like Pakistan NIFA, they produce some excellent quality of seeds, vegetables, tobacco, sugarcane etc the harvest from those crops can further be used for the next cultivation.
"it is being addressed accordingly" HOW ?

 

[Xenon54]

Turkish state does not need more debt as there is no such need. It is the private sector that can use more debt but we don't need that either as there isn't much that we can't do with our own resources. It is better to take it easy investing as only innovation should be invested in. For the case of unemployment it is very expensive to create jobs for the high paying professions. It is only the agriculture sector that can create a big amount of jobs and it is being addressed accordingly.

I wonder whether we talk about the same country in the first place...

 

[Zafer]

We are not buying foreign weapons, we are making more and more of our own medicine. What else does a government spend money on. We only need to roll our existing debt. Once our existing indigenousation plans are realized we will have a very well balanced foreign trade. It is only 7 years to get there, give or take.

 

[Xenon54]

We are not buying foreign weapons, we are making more and more of our own medicine. What else does a government spend money on. We only need to roll our existing debt. Once our existing indigenousation plans are realized we will have a very well balanced foreign trade. It is only 7 years to get there, give or take.

Ok i will give you just one exsample. The following bridge will cost the state 8 times the original price in the next 25 years, just one single exsample of many.

This mentality has made the country bankrupt, it wont be fixed in the coming decades, forget your milkman calculation you guys just wasted the future of the coming generation...

 

[Zafer]

Ok i will give you just one exsample. The following bridge will cost the state 8 times the original price in the next 25 years, just one single exsample of many.

View attachment 22524

This mentality has made the country bankrupt, it wont be fixed in the coming decades, forget your milkman calculation you guys just wasted the future of the coming generation...

What proof do you have? Where is the bankruptcy, do we have high dept ratios, NO.
Fortune telling skills don't count.

 

[Lool]

What proof do you have?
Fortune telling skills don't count.

I think he meant maintenace and operational costs over 8 years


And normally these projects (for such costs to be justifiable) must cut similar costs in other sectors of the economy such as transportation time, fuel consumption, damagento the environment, urban pollution etc...,
These things will appear over time; only then will we know whether it was a good project or not

 

[Xenon54]

What proof do you have? Where is the bankruptcy, do we have high dept ratios, NO.
Fortune telling skills don't count.

You keep playing the three monkies.