TR Economy & Updates

[Turko]

İt is not a speculation, it is a manipulation which is criminal action.

Crime Of Manipulation

Crime of Manipulation which is regulated in the Capital Market Law No. 6362, is among the financial crimes.

www.mondaq.com

 

[Zafer]

What the government has been doing for a few days is called exchange rate speculation(pouring dollars-precious central bank reserves- into the markets after 6 pm and threatening the markets). Make no mistake you will see the dollar will be shooting back in Q1 and Q2 2021. Those who evaluate the trend with daily events will be surprised.

There must be a mechanism to make this happen, care to elaborate on this?

 

[Khagan1923]

Akpeons here will wish 18 Lira back in a few months, because those will be the good days. Funny how they crawl out of the holes they were hiding in the few months and try to celebrate a "victory" which can only be called such by sheeps. Attaining victory by burning through dollar reserves the central bank doesn't have to drop the lira to 12 meanwhile last year it was at 7. Tell me where is your victory?

Your own FETÖ Economy minister announced in front of cameras that they pruposefully fucked over small "investory" meaning the average Turk and warned there big yandas firms before pulling this.

Central bank is in a black hole deeper than the heaviest black hole in the known universe. The economy is continuing to shrink and has fallen behind Iran. Prices are still shooting up and aren't coming down.

And you all think you have achieved some kind of victory? The same people who were crying about gezi and the lira losing 10 cent of value against the dollar in 2013 are now acting as if their party has achieved a victory by shady business and burning immense amount of dollar reserve which they loaned from Qatar and China for who knows what in return.

Try to gloat, but please when the dollar jumps to 20+ lira in Q1 of 2022 dont go back to hide in your holes.

İt is not a speculation, it is a manipulation which is criminal action.

Crime Of Manipulation

Crime of Manipulation which is regulated in the Capital Market Law No. 6362, is among the financial crimes.

www.mondaq.com

Economist and the average person are aware what Erdogan and his goons are doing. This will not end well, this is even worse than the hyperinflation Turkey is in the first phase of. 2022 will make 2021 look like paradise.



akpeons arguments over the last 4 months:

1. Foreign powers are attacking us because they fear rEIS
2. Reis is devaluing our currency on purpose to spure investments to become the next china
3. Reis has devised a new never seen before economic plan, no one has ever done this.
4. Gezi has done this

Meanwhile Turkey enters hyperinflation.

Here Erdogan and his goon pull shady shit and destroy the central bank and long term future the economy has and fuck over the average turk while tipping off their yandas to make money off the back of the Turkish state and citizens.

5. Reis has saved the currency by dropping the dollar to 12 lira from 18 by burning through money we don't have.

Prices don't fall of course, no they continue rising.

Next year in Q1 when the Central Bank is broke and Dollar jumps to 20+ Lira

6. Foreign powers are attacking us.
7. We are copying China
8. Reis has a new economic plan




Leaving you with our FETÖ economy minister explainig in front of millions of people their thievery.

https://twitter.com/i/web/status/1474134513970294788

 

[Khagan1923]

-65.5 Billions Dollar. Everything is fine people, just don't look behind the flimsy build curtain.

 

[Khagan1923]

Turkey’s tumbling foreign assets hint at ‘aggressive’ lira intervention

Bankers point to ‘very concerted’ effort to boost currency after Erdogan unveiled savings scheme

www.ft.com

 

[Turko]

View attachment 37671

-65.5 Billions Dollar. Everything is fine people, just don't look behind the flimsy build curtain.

İ heard the number minus 35 billion but first time I've seen -65 billion USD reserves. What's the source?

 

[Zafer]

I guess the opposition is not happy for the goverment is on the way to fail in its economy moves while they have always wished them to fail. Odd very odd.

 

[Manomed]

I guess the opposition is not happy for the goverment is on the way to fail in its economy moves while they have always wished them to fail. Odd very odd.

great georgian economy plan

 

[Anastasius]

I guess the opposition is not happy for the goverment is on the way to fail in its economy moves while they have always wished them to fail. Odd very odd.

Why would you want the country to crash? One might not like AKP but the overwhelming wish should be for them to start doing better and fix their mistakes not drive the nation so deep into the abyss that they will finally get voted out by even their staunchest supporters.

 

[Turko]

Why would you want the country to crash? One might not like AKP but the overwhelming wish should be for them to start doing better and fix their mistakes not drive the nation so deep into the abyss that they will finally get voted out by even their staunchest supporters.

I'm one of the republicans and current economic fails harmed me and my family much more than akape/mehape supporters. I just want all Turkish people to live in good conditions.

 

[TheInsider]

This is a huge gamble destined to fail. This kind of dollar selling plus compensation scheme never worked both in Türkiye and in the world. This is not a new thing Erdogan invented. The government borrowed some time(1 to 6 months) doing this but in fact, the government deepened the imminent economic crisis. Erdo took a huge risk. He bets on he can hold the USD until summer, he thinks tourism and exports will be so strong next year that the economy will stabilize.

The fate of the tourism revenues is doubtful. Tourism money can see some improvement but I doubt it will reach the past figures like 40 billion USD.
We will probably export 260 to 275 billion USD(~22-23 billion monthly average) worth of goods and services next year and probably ~25 billion monthly in 2023 and pass 300 billion USD milestone. (~ 220 billion this year)
We will probably import around 300 billion USD worth of goods and services next year. The foreign trade deficit will probably be around 35 billion USD with the partial recovery of tourism (~45 billion USD this year)

Inflation will run rampant throughout the year both in Türkiye and in the world. The inflation ratio in December 2021 will be extremely high and the inflation ratio in January 2022 will be catastrophic. Q1/Q2 next year will be very hard. I expect official TUIK inflation to be bigger than %30 and real inflation will be more than double that amount. TL will lose at least %50 value if everything is handled really well from this point on.

 

[Lool]

This is a huge gamble destined to fail. This kind of dollar selling plus compensation scheme never worked both in Türkiye and in the world. This is not a new thing Erdogan invented. The government borrowed some time(1 to 6 months) doing this but in fact, the government deepened the imminent economic crisis. Erdo took a huge risk. He bets on he can hold the USD until summer, he thinks tourism and exports will be so strong next year that the economy will stabilize.

The fate of the tourism revenues is doubtful. Tourism money can see some improvement but I doubt it will reach the past figures like 40 billion USD.
We will probably export 260 to 275 billion USD(~22-23 billion monthly average) worth of goods and services next year and probably ~25 billion monthly in 2023 and pass 300 billion USD milestone. (~ 220 billion this year)
We will probably import around 300 billion USD worth of goods and services next year. The foreign trade deficit will probably be around 35 billion USD with the partial recovery of tourism (~45 billion USD this year)

Tourism wont recover this year as well
Omicron variant is spreading like wildfire in Europe and the idea of major EU lockdown is now being brought to the Agenda again

I think Turkey should prepare in advance for the fact that tourism revenues may plummet hardly this year

 

[Turko]

I think we should expect FED will increase interest rates which could cause dramatic rise USD/ TL

World economy to top $100 trillion in 2022 for first time: report

The world's economic output will exceed $100 trillion for the first time next year and it will take China a little longer than previously thought to overtake the United States as the No.1 economy, a report showed on Sunday.

www.reuters.com

World Bank Global Economic Prospects

The World Bank Global Economic Prospects Report shows that the global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years. However, many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath.

www.worldbank.org

 

[Xenon54]

What the government has been doing for a few days is called exchange rate speculation(pouring dollars-precious central bank reserves- into the markets after 6 pm and threatening the markets). Make no mistake you will see the dollar will be shooting back in Q1 and Q2 2021. Those who evaluate the trend with daily events will be surprised.

Anyone with even a slightest idea about economy will understand that the situation in Turkey is anything but sustainable.
The funny thing is those who were propagating that devaluation of lira is to archieve export oriented economy are now celebrating by burning one dollar notes.
Politics in Turkey never made sense but we reach new levels here.

 

[mulj]

To cheer up thread, as predicted lot of examples like this will follow but i expect bad mouthing anyway, from so called experts

https://twitter.com/i/web/status/1475141378891997191

 

[Zafer]

Turkey is cashed up, we just need to circulate the money faster.

 

[Bogeyman]

Yapı Merkezi signed a railway project of approximately 2 billion dollars with Tanzania

It has been announced that Yapı Merkezi, a construction company based in Turkey, has signed a railway project of approximately 2 billion dollars with Tanzania.

Tanzanian President Samia Suluhu Hassan and Yapı Merkezi Vice President Erdem Arıoğlu attended the signing ceremony.

Turkey's Ambassador to Dar es Salaam, Mehmet Güllüoğlu, said in a statement on Twitter, "Today, our Yapı Merkezi company signed an agreement with the Tanzania Railways Administration for the construction of the 3rd stage of the High Speed Trainway (SGR) Project, where the construction of the 1st and 2nd stages continues in Tanzania." used the phrase.

Ambassador Güllüoğlu, who shared the information that the prime minister, the minister of transport and many other ministers attended the signing ceremony, stated that with the completion of the project, many cities between Dar es Salaam and Mwanza can be reached by train.

The 364-kilometer-long railway will cost approximately 2 billion dollars.

Within the scope of the project, more than 14 thousand employees are employed, of which approximately 2 thousand are Turkish citizens.

Yapı Merkezi, Tanzanya ile yaklaşık 2 milyar dolarlık demir yolu projesine imza attı

- Anadolu Ajansı

www.aa.com.tr

 

[Tornadoss]

Dolar is rising again (7% today). I thought it would going down below 10 and not go up for a while(!)

 

[Nilgiri]

Dolar is rising again (7% today). I thought it would going down below 10 and not go up for a while(!)

It hit its lowest point around boxing day (Dec 26th) at 10.91.

Next day went to 11.6

Now it is at 12.65 (dec 29)...year is not even ended.

Folks were talking about keeping it in range for 11.5 - 12.5 for a couple months.

That range has been traversed in couple days....

Some other was saying "9 Lira" was some natural range determined by twitterarti.


All seems case of Bangalore torpedo the oil well flame to try cut it out....but it was nowhere near big enough (or the right explosive) for the flame you lit yourself and "idiosyncratically" continue to sustain.

 

[Ravenman]

The first Starbucks in Elazig opened 2 months ago. I visited today to take a look.

It was over-full. No space inside. I was waiting with many other customers outside in the cold, hoping that 1 customer go out so that another could go in.

A 'hungry' middle class ("Ekmek eve götüremiyong aaaaabiiii!") can not afford Starbucks with their sharkloan prizes.