TR Economy & Updates

[Huelague]

you don't see this kind of behavior in a european, an australian, a canadian. cheap behavior is typical of arabs..

Ask Spanians about Germans, Russians or Brits.

 

[Nilgiri]

inflation of producers prices : %42

İncredible %42 !!!!
Economy is great....

Here is the link of official news agency of our country.

Enflasyon rakamları açıklandı

Tüketici fiyat endeksi haziran ayında yıllık yüzde 17,53, aylık yüzde 1,94 arttı. - Anadolu Ajansı

www.aa.com.tr

https://twitter.com/i/web/status/1411949184580820992

Was this measured compared to prices same time last year (i.e year on year)?

 

[Turko]

Was this measured compared to prices same time last year (i.e year on year)?

Yes it was measured same time last year.

It increased by 22.04 percent compared to December 2020 and by 42.89 percent compared to June of last year.

 

[Nilgiri]

Yes it was measured same time last year.

It increased by 22.04 percent compared to December 2020 and by 42.89 percent compared to June of last year.

I suppose lot of producer prices are linked to (inelastic) imports from other countries....thus steady and high Lira depreciation gives the base amount of inflation producers (who add their value-addition onto these imports) see.

Such things like this show consumer price index intrinsic limits....as not everyone basket of goods is same (i.e the normal distribution around it can be quite spread out i.e standard deviation can be quite high).

This all gives glimpse of how govt statistics can distort from reality by asserting homogeneity.

There are more ways that go above and beyond this (by corrupting/skewing other things in measurement policy) but that takes lot more indepth analysis to unpack (i.e hidden inflation that would add to both CPI, WPI and producers and purchasing power indices).

I suppose consumer inflation rate (currently at 17.5% in june for Turkey) is somewhat lower than this 22% as Turkish consumption basket has more components that are purely internally sourced (things like food etc)....compared to producer company "average" which are somewhat more import reliant it seems.

 

[Saithan]

Erdoğan hails country's public housing projects - Latest News

Turkey's president hailed public housing projects in the country at an event on July 7 where he presented the key for the millionth public home to its new owners.

www.hurriyetdailynews.com

While the idea is good, I don't hear anything about sustainable, cost efficiency. TOKI style housing is 1000 same silo constructions

actgroup.com.tr - TOKI Adana Earthquake Buildings​

Turkish gov't launches nationwide social housing project (DailySabah)​

Metroline or such should be thought into these projects because as I can see there doesn't seem to be parking space. 1,5 car per family/apartment is the norm in Denmark since not every family has two cars.

An old blog from 2014

Agoraphobia

@Uncube A film about urban change in Turkey – and possibly China

www.uncubemagazine.com

with english subtitles

 

[Xenon54]

Erdoğan hails country's public housing projects - Latest News

Turkey's president hailed public housing projects in the country at an event on July 7 where he presented the key for the millionth public home to its new owners.

www.hurriyetdailynews.com

While the idea is good, I don't hear anything about sustainable, cost efficiency. TOKI style housing is 1000 same silo constructions

View attachment 25275

actgroup.com.tr - TOKI Adana Earthquake Buildings​

View attachment 25276

Turkish gov't launches nationwide social housing project (DailySabah)​

Metroline or such should be thought into these projects because as I can see there doesn't seem to be parking space. 1,5 car per family/apartment is the norm in Denmark since not every family has two cars.

An old blog from 2014

Agoraphobia

@Uncube A film about urban change in Turkey – and possibly China

www.uncubemagazine.com

with english subtitles

Well those are social housings so car parking wont be much of an issue anyways but i agree, metro or other public transport is a must to give those people the opportunity to find work.
Or those places will become a ghetto pretty fast.

 

[Zafer]

720 tons is the amount of gold held in the coffers of Turkey's Central Bank.
All the gold deposited outside Turkey has been transferred to Turkey in the past few years.
The total amount of gold in Turkey's possession was 120 tons before.

 

[Xenon54]

720 tons is the amount of gold held in the coffers of Turkey's Central Bank.
All the gold deposited outside Turkey has been transferred to Turkey in the past few years.
The total amount of gold in Turkey's possession was 120 tons before.

Well central bank is in negative reserve, gold is the only asset thats left, those 720t will vanish fast with current economy, it was not a coincidence that the gold got brought back just now.

 

[TheInsider]

720 tonnes of gold is not a big amount.

 

[Zafer]

720 tonnes of gold is not a big amount.

Turkish people have 3000-5000 tons of gold in their stashes as savings while US govt have 8000 tons as the top holder. As a gold miner Turkey is trying to move from 40 tons to 100 tons annual production in the next 5 years or so. I expect Turkish govt gold reserves to grow to more than 1500 tons in the next 5 years as people are also encouraged to keep their gold in banks.

According to listings India held the 10th place in the world by 695 tons which is now replaced by Turkey with 720 tons. While 10th place is not bad I believe Turkey will soon hold 8th place after China who has 2000 tons surpassing Japan and Switzerland.

 

[what]

Turkish people have 3000-5000 tons of gold in their stashes as savings while

Let me stop you right there.

1.) it's an estimate
2.) its not worth anything to the economy because people have it under their mattresses not in the bank where it actually would make an impact

 

[Zafer]

Let me stop you right there.

1.) it's an estimate
2.) its not worth anything to the economy because people have it under their mattresses not in the bank where it actually would make an impact

It is not like they never touch them, we exchange them as a last resort. So now we have some knowledge as to how Turkish people are coping with economic downturns. More and more people keep their gold in more exchangeable gold ingots rather than in ornamental pieces.

 

[TheInsider]

Turkish people have 3000-5000 tons of gold in their stashes as savings while US govt have 8000 tons as the top holder. As a gold miner Turkey is trying to move from 40 tons to 100 tons annual production in the next 5 years or so. I expect Turkish govt gold reserves to grow to more than 1500 tons in the next 5 years as people are also encouraged to keep their gold in banks.

According to listings India held the 10th place in the world by 695 tons which is now replaced by Turkey with 720 tons. While 10th place is not bad I believe Turkey will soon hold 8th place after China who has 2000 tons surpassing Japan and Switzerland.

How much 720 tonnes of gold worth in US dollar? 41 billion and 760 million dollars. Peanuts for a country like TR. We have spent more than 50 billion just for Syrians.

Peoples gold savings are highly exaggerated. As pointed out those savings will stay under the pillow. It is not like 5 people come together to setup a factory. In an economic crisis those savings will be used as a last resort to feed the family.

Turkiye is a gold producing country but most of the gold mines are owned by foreigners so if you wanna buy gold you pay them. And the money goes abroad.

 

[KKF 2.0]

It is not like they never touch them, we exchange them as a last resort. So now we have some knowledge as to how Turkish people are coping with economic downturns. More and more people keep their gold in more exchangeable gold ingots rather than in ornamental pieces.

I will never sell my Gold savings to rescue a government which single handedly ruined everything it built up over the past decade. I would not even touch my savings to help my neighbors. In what world are you living?

 

[Zafer]

How much 720 tonnes of gold worth in US dollar? 41 billion and 760 million dollars. Peanuts for a country like TR. We have spent more than 50 billion just for Syrians.

Peoples gold savings are highly exaggerated. As pointed out those savings will stay under the pillow. It is not like 5 people come together to setup a factory. In an economic crisis those savings will be used as a last resort to feed the family.

Turkiye is a gold producing country but most of the gold mines are owned by foreigners so if you wanna buy gold you pay them. And the money goes abroad.

Turkish government has a sovereign share of the gold produced which is levied as a percentage of the gold mined and the percentage is determined depending on the price of gold. Gold is priced at USD$ 1800+ now and the percentage is 15%. This amount is not tax (?) and other corporate and sales taxes also apply. Out of the 42 tons extracted in 2020 government got 5.775 tons as its share as the share was 13.75% last year.

48% of the gold production is made by Turkish companies and 52% is made by Turkish companies with foreign capital. Also Turkish Central Bank has the privilege to buy the extracted gold and in the last few years all gold is bough by the TCMB.

 

[Zafer]

I will never sell my Gold savings to rescue a government which single handedly ruined everything it built up over the past decade. I would not even touch my savings to help my neighbors. In what world are you living?

You just save yourself and do not be a burden to the public. If everyone does this everyone is saved.

 

[Xenon54]

I will never sell my Gold savings to rescue a government which single handedly ruined everything it built up over the past decade. I would not even touch my savings to help my neighbors. In what world are you living?

Do i sense a change of air in you?

 

[Turko]

Guys, I've been in Turkey for 10 days, Turkish pensioners can't afford a lot of things for themselves comparing past years however even Ukrainian tourists start enjoying the cheap prices in Türkiye while Ukrainian economy getting better.

Currently the problem in Turkey is Turkish people have little income. Turkish People are really suffering with minumum wages and pensions.

When my father became pensioner 22 years ago his first pension was 750 USD , now it is just 350 USD.
Note that 750 USD of 22 years ago today will be 1250 USD, calculating inflation in USA.

 

[Xenon54]

Guys, I've been in Turkey for 10 days, Turkish pensioners can't afford a lot of things for themselves comparing past years however even Ukrainian enjoy the cheap prices.

Currently the problem in Turkey is Turkish people have little income. Turkish People are really suffering with minumum wages and pensions.

When my father became pensioner 22 years ago his first pension was 750 USD , now it is just 350 USD.
Note that 750 USD of 22 years ago today will be 1250 USD, calculating inflation in USA.

The curious thing is the low income people tend to vote AKP, shows how dangerous illitercy is.

 

[Huelague]

Do we need an executive order 6102?