TR Economy & Updates

[Baryshx]

By the way, making someone like Erhan Afyoncu the minister of education? I know him from his disgusting comments in Habertürk.

I think he was brought in for the education system based on Sharia and Ottoman.

I see someone with the surname Bayraktar again.

It is good that we got rid of two types like Soylu and Varank.

 

[moz68k]

Cabinet

I don't think this is legit. Doesn't look like an executive order from the official gazette and there are some grammatical errors. Orders are typeset in Times New Roman. Not to mention Calibri has a certain history in Turkish politics. From what I hear the cabinet will be announced next week.

 

[Olcayto]

Not sure why all the smack talk about Mehmet Şimşek. He had a very good term in the past.

He already had a request to be appointed, but probably rejected it based on the fact he would not be abla to work without the meddling of RTE. He probably received a promise that he would be able work entirely independently.

 

[TheInsider]

I don't think this is legit. Doesn't look like an executive order from the official gazette and there are some grammatical errors. Orders are typeset in Times New Roman. Not to mention Calibri has a certain history in Turkish politics. From what I hear the cabinet will be announced next week.

Yes, you might be right. This looks fake.

 

[dBSPL]

A margin call was made for a TL 1.67 billion short position in the stock exchange. For those who act according to the plan that the stock market will crash after RTE is elected, it is time to exchange dollars and gold.

*

Meanwhile, the Atlanticist political Islamist newspaper seems to have welcomed the Simsek speculation. A big contrast, and a development that undermines RTE's rhetoric in recent months. Markets are pricing in Simsek because there is intense speculation.

 

[Zafer]

A margin call was made for a TL 1.67 billion short position in the stock exchange. For those who act according to the plan that the stock market will crash after RTE is elected, it is time to exchange dollars and gold.

*

Meanwhile, the Atlanticist political Islamist newspaper seems to have welcomed the Simsek speculation. A big contrast, and a development that undermines RTE's rhetoric in recent months. Markets are pricing in Simsek because there is intense speculation.

I wouldn't buy these speculations so early as Erdoğan continued mentioning/criticizing efforts of Mr Kılıçtaroğlu to get loans from the London bankers in the latest speech that he gave yesterday.

 

[TheInsider]

Mehmet Şimşek will be appointed as the minister of treasury and finance. He will bring some talent. He is also given autonomy and he negotiated an interest rate increase with Erdogan before his appointment.
Expect an interest hike in the near future.
İbrahim Kalın and Hakan Fidan are also likely to be appointed as ministers.

 

[dBSPL]

https://twitter.com/i/web/status/1663869420467372032

bilateral non-oil trade beyond $40bn in the next 5 years?

Volumes will multiply in service sectors and some production areas. But I think the defense industry will also play a serious role here. We may see huge contracts in a year or two.

 

[Rodeo]

Lira is in free fall. It lost 7% of its value just today.

https://edition.cnn.com/2023/06/07/economy/turkish-lira-crash-new-government/index.html

 

[Crush716]

Lira is in free fall. It lost 7% of its value just today.

https://edition.cnn.com/2023/06/07/economy/turkish-lira-crash-new-government/index.html

Well they wasted billions of taxpayer dollars to hold it for this long. I mean everyone knew this was going to happen and it will continue to fall for the foreseeable future unfortunately

 

[GoatsMilk]

Well they wasted billions of taxpayer dollars to hold it for this long. I mean everyone knew this was going to happen and it will continue to fall for the foreseeable future unfortunately

how many years now have we had of erdogans economy giving us record lows? Its like the lira is near worthless but its still got many years left of devaluation to go. How on earth can these guys be so good at consistently destroying the lira? And can you imagine half the country voted for these failures, thats insanity.

And what a deception, instead of voting for results, they were manipulated to vote over fears of the "other" being a bigger tragedy. Continue down this path and mass poverty is the Turkish future.

 

[moz68k]

This is bittersweet news. At least they've been forced to return to orthodoxy. Painful short- and medium-term stagflation ahead, but—as long as they stick to a rational fiscal and monetary policy—at least the long-term health of the economy will be spared. Erdonomics was a gamble, a failed experiment with a population of 85 million lab rats. I'm glad that even though in that CNN interview just before the election where Erdo appeared to stick to his campaign promise of Erdonomics, he betrayed his voters. Though I really doubt they voted for his economic policies in the first place, and not his cult of personality.

 

[B_A]

This is bittersweet news. At least they've been forced to return to orthodoxy. Painful short- and medium-term stagflation ahead, but—as long as they stick to a rational fiscal and monetary policy—at least the long-term health of the economy will be spared. Erdonomics was a gamble, a failed experiment with a population of 85 million lab rats. I'm glad that even though in that CNN interview just before the election where Erdo appeared to stick to his campaign promise of Erdonomics, he betrayed his voters. Though I really doubt they voted for his economic policies in the first place, and not his cult of personality.

I think It was like Abenomics. limited success but destroyed by Covid virus.

 

[moz68k]

I think It was like Abenomics. limited success but destroyed by Covid virus.

In a way, yes, there was a tiny chance it could work, if there weren't so many domestic and international catastrophes. However, Japan has a storied industrial and service sector and far more goodwill from investors, things that Turkey sorely lacks. Even then, the BoJ is struggling to raise interest rates. It was silly to think that a growth and stimulus oriented approach would work for Turkey's current economy.

 

[B_A]

In a way, yes, there was a tiny chance it could work, if there weren't so many domestic and international catastrophes. However, Japan has a storied industrial and service sector and far more goodwill from investors, things that Turkey sorely lacks. Even then, the BoJ is struggling to raise interest rates. It was silly to think that a growth and stimulus oriented approach would work for Turkey's current economy.

Japanese weaknesses:

Very Aged population
Huge government deficit and debt(260% gdp)
0 % interest rates
Lack of natural resource

Turkish weaknesses:

Huge trade deficit
bad relationship with west
Weak industry compare with Korea Japan
Without any international brand
Lack of natural resource /a little better than japan
Very bad neighbour country

Talk to overcome the problem of Turkey is easy but very hard to do.

If our civilian industry as good as our armed drone everything ıs fine

TOGG is a good idea but a bit too late.

But the CHP supporter still attacking them.
Without good industry,the problem of our economy will never change.

Abe and Erdogan were tried to do some change,which is better than do nothing

 

[Tornadoss]

Japanese weaknesses:

Very Aged population
Huge government deficit and debt(260% gdp)
0 % interest rates
Lack of natural resource

Turkish weaknesses:

Huge trade deficit
bad relationship with west
Weak industry compare with Korea Japan
Without any international brand
Lack of natural resource /a little better than japan
Very bad neighbour country

Talk to overcome the problem of Turkey is easy but very hard to do.

If our civilian industry as good as our armed drone everything ıs fine

TOGG is a good idea but a bit too late.

But the CHP supporter still attacking them.
Without good industry,the problem of our economy will never change.

Abe and Erdogan were tried to do some change,which is better than do nothing

Projects such as TOGG shouldn't have been politicized but it happened. You can not just blame the opposition for it.

 

[Rodeo]

We have more than $160B external debt to pay in the short term(in less than a year). Unless we start attracting dollars from abroad very soon, we might very well start seeing the catastrophe of balance of payments crisis.

I'm increasingly of the opinion that we will have to resort to IMF in the end.

TCMB - Kısa Vadeli Dış Borç İstatistikleri

Türkiye Cumhuriyet Merkez Bankası, ülkemizde para ve kur politikalarının yönetilmesinden sorumlu kurumdur. Merkez Bankasının temel amacı fiyat istikrarını sağlamaktır.

www.tcmb.gov.tr

 

[B_A]

Projects such as TOGG shouldn't have been politicized but it happened. You can not just blame the opposition for it.

Not Erdogan or AKP good but Our country love foreign goods and brand for too long time.Since the age of 1800s

When the Japanese Korean and Chinese creating their own brand.AKP done a few high tech and politicized that, but other governments before just done low-tech industry which cant export overseas to earn money

 

[GoatsMilk]

Japanese weaknesses:

Very Aged population
Huge government deficit and debt(260% gdp)
0 % interest rates
Lack of natural resource

Turkish weaknesses:

Huge trade deficit
bad relationship with west
Weak industry compare with Korea Japan
Without any international brand
Lack of natural resource /a little better than japan
Very bad neighbour country

Talk to overcome the problem of Turkey is easy but very hard to do.

If our civilian industry as good as our armed drone everything ıs fine

TOGG is a good idea but a bit too late.

But the CHP supporter still attacking them.
Without good industry,the problem of our economy will never change.

Abe and Erdogan were tried to do some change,which is better than do nothing

Maybe the biggest weakness is the massive levels of corruption and cronyism. Just think of all the unqualified idiots that have taken important positions within Turkiye because of erdogan. One of most glaring failures was him placing his shockenly incompetent other son in law in charge of the central bank. Everyone knew that was a disaster, but the country had to lose and lose big time before he was replaced.

But at the end of the day Turkiye is exactly where she belongs and she belongs there because of the general level of intelligence of the population. You can't expect a nation where half the population gets aroused/excited when they hear "They may have dollars, but we have Allah" to be a first world nation. That sort of talk is stuff you should only hear in the middle ages.

A rational society would hear such talk and turn on that leader knowing that it means he has no answers to solve the terrible economy he created. Because that terrible economy means everyone in family is going to suffer more economic hardships. And that sort of talk is also an insult, erdogan and his boys know the people are easily to fool using religion and they exploit to its fullest.

But the biggest danger facing Turkiye is the minority class with skills and intellectual ability leaving the country to work in first world nations. Just in my area alone here in the UK which is a small town, in the past 3 years i know about 10 Turkish families who left Turkiye to come live here and work in good jobs. With all of them the story is always the same, why put up with all the backward nonsense in Turkiye when they can come here live a good a life and earn good money.

 

[Zafer]

Projects such as TOGG shouldn't have been politicized but it happened. You can not just blame the opposition for it.

TOGG would not happen without strong push by Erdoğan, lets give credit where credit is due. It is not a government project that belongs to the state, it is a private sector project for the most part, so Erdoğan is fully entitled to take credit for it. There is not a second power in Türkiye by whom this project could be enabled. Take Erdoğan out of it this would not happen in a thousand years, period.