TR Economy & Updates

[Lool]

Turkish lira swings on rumours of new central bank firing

Currency rebounds as Erdogan’s administration denies reports that it would sack Sahap Kavcioglu

www.ft.com

Financial Times.

"Yet some analysts and market participants have speculated in recent weeks that Kavcioglu could be replaced by Semih Tumen, a former central bank official who returned to the institution in May as a deputy governor."

Under what criteria did such analysts conclude that Semih Tumen will replace kavcioglu?

"A senior Turkish banker played down the prospect that Tumen, who has a PhD in economics from the University of Chicago, would take over. “If [a change of governor] happens, [the replacement] will be somebody who is much more obedient and stupid.”

Probably
Though I would doubt he would be fired
I think I can understand RTE plan to a digree. Lower the lira, increase investments, reduce unemployment, increase exports, reduce trade deficit, gain more market shares worldwide, increase foreign reserves and increase Turkey's geopolitical significance
It is somewhat going alomg those lines...... I guess?
Not saying that it is good though! I do have criticisements to such plans

So why would kavciouglu be fired when he is literally doing what RTE wants? I still dont understand

 

[Nilgiri]

Something strange is going on.

Instead of (what i thaught) slapping Erdogans Turkey with sanctions and harsh regulations, Western multinationals coming to invest.

How is this possible?

Maybe you overrated what the "sanctions" regime actually is.

It very rarely can permeate to corporate arena (where profits are involved all around) especially in the non-high tech sector.

Just ask China. They bulked up on all this stuff in 90s and 2000s....while tianenmen square sanctions (and a number of other sanctions) continued from the political establishments of same countries.

Turkey is far far more integrated with EU economy in first place than most other countries outside of EU.

 

[Huelague]

Something strange is going on.

Instead of (what i thaught) slapping Erdogans Turkey with sanctions and harsh regulations, Western multinationals coming to invest.

How is this possible?

Business doesnt care politics. Just money.

 

[mulj]

good ratio but it could be better, with better energy and raw materials input i suppose this result would be spectacular.

https://twitter.com/i/web/status/1447432458367033346

 

[TheInsider]

Even better export figures are expected next year. Slave workforce, competitive prices due to TL exchange rates, and logistic chain problems in the western countries are turning TR into a producer/exporter country. Turkiye exported 20 billion and 783 million $ worth of goods and services in September. Turkiye exported a total of 212 billion and 219million $ worth of goods and services in the last 12 months (September 2020-September 2021) period.

 

[HTurk]

Turkey's current account balance posts surplus after 10 months

Turkey's current account balance posted a surplus of $528 million (TL 4.73 billion) in August, versus a deficit of $4 billion in the same month last...

www.dailysabah.com

 

[Saithan]

August brings 48.1% total turnover jump for Turkish economy

Turkey’s total turnover jumped 48.1% in August on a yearly basis, the country's statistical authority announced Tuesday.The index saw the biggest...

www.dailysabah.com

 

[TheInsider]

IMF revised its growth rate forecast for Türkiye from %5.8 to %9.

 

[Ecderha]

IMF revised its growth rate forecast for Türkiye from %5.8 to %9.

Few months ago in IMF started "a Coup" as some of members and executive of organization fall.
Also before that there was again organizational issue related to some data which is used as forcasting or statistic which were "let say most of them did not have enough weight to be valid"

I just like to say that Are you guys really "believe" to IMF data/forcasts?
or I can put it in other way around do you think that this forcast data provided from IMF have enough validity?

For me personally IMF is organization is very much corrupt and other thing is which is bad is that they follow own agenda (which make them speculator).
It is not a secret they bind organization and paid to provide data in such way which suite them.
Above things make them as source of speculation.

 

[Huelague]

IMF revised its growth rate forecast for Türkiye from %5.8 to %9.

Who cares? Seriously.
Can they drop unemployment? Or create jobs? Or stop increasing inflation? Or bring minimum wage? Anything else is for AKP show.

 

[Agha Sher]

Who cares? Seriously.
Can they drop unemployment? Or create jobs? Or stop increasing inflation? Or bring minimum wage? Anything else is for AKP show.

If the economy experiences high growth, then naturally many job will be created. Maybe the impact is not visible year by year - but if Turkey can maintain high growth for a decade, Turkey will become a serious economic powerhouse.

 

[Huelague]

If the economy experiences high growth, then naturally many job will be created. Maybe the impact is not visible year by year - but if Turkey can maintain high growth for a decade, Turkey will become a serious economic powerhouse.

We grown up to 5% average since 20 years. No significant jobs are created. Rich are getting richer. Poor are getting poorer. Living on high credit doesn’t mean we living on high life style.

 

[Huelague]

Can someone show us a statistic how many jobs are created since 20 years. And compare it to people who loose there jobs.

 

[Zafer]

Can someone show us a statistic how many jobs are created since 20 years. And compare it to people who loose there jobs.

If the population increase is an indication and that we are at 12% unemployment rate it is like a million jobs per year or so. Also female employment keeps increasing.

 

[Huelague]

No statistics as to how many lost their jobs. You should look into İskur data (I do not have it).

Just compare unemployment rate per year.

 

[Abdelaziz]

Qatar opened a new zinc alloys factory which will produce 90k tonne per year in the first stage (~38% of turkey needs) and aim to cover all the needs and prevent the imports in upcoming stages and will employ 3000 worker with 300 million $ investments

بمشاركة قطرية تبلغ 110 مليون دولار.. #تركيا تفتتح مصنعاً لإنتاج سبائك الزنك في مدينة #سيرت | By ‎الجزيرة - تركيا‎ - Facebook

بمشاركة قطرية تبلغ 110 مليون دولار.. #تركيا تفتتح مصنعاً لإنتاج سبائك الزنك في مدينة #سيرت

fb.watch

 

[Ravenman]

The economy is doing great. I am here know and i see a lot.

Restaurants: full
Taverns: full.
Superdupers: full.
Taxi's: full
Malls: full.
Bakeries: full.
Kebab-toko's: full.
Hotels: full.
Hamams: full.
Barbershops: full.
Petshops: full.

If you let a fart here it will smash against someone. Even the streets are full. And there are no empty parts in the Superduper-market. Every place is filled with products.

 

[Lool]

Erdogan should really let the economy be controlled by those who know what tf they are doing
I mean just why, just WHY!!
Thx to this, the lira posted significant losses today


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Erdogan sacks three people from the Central Bank’s monetary policy committee, including Semih Tumen who was rumoured for the governorship</p>&mdash; Ragıp Soylu (@ragipsoylu) <a href="

https://twitter.com/i/web/status/1448402374477893641

">October 13, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[the]

Erdogan should really let the economy be controlled by those who know what tf they are doing
I mean just why, just WHY!!
Thx to this, the lira posted significant losses today


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Erdogan sacks three people from the Central Bank’s monetary policy committee, including Semih Tumen who was rumoured for the governorship</p>&mdash; Ragıp Soylu (@ragipsoylu) <a href="

https://twitter.com/i/web/status/1448402374477893641

">October 13, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

There's no way its not intentional anymore.

Either its done on purpose or people around him influence him to make these decisions in their best interests (to bet against the Lira and make quick profit).

 

[Nilgiri]

Erdogan should really let the economy be controlled by those who know what tf they are doing
I mean just why, just WHY!!
Thx to this, the lira posted significant losses today


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Erdogan sacks three people from the Central Bank’s monetary policy committee, including Semih Tumen who was rumoured for the governorship</p>&mdash; Ragıp Soylu (@ragipsoylu) <a href="

https://twitter.com/i/web/status/1448402374477893641

">October 13, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Why does your copy paste from twitter always have all this other code around it each time lol. I have noticed it only happens with your posts.