TR Economy & Updates

[Rodeo]

He should make TUIK a trustworthy institution again. TUIK should be transparent and publish the inflation basket it uses for its calculations.

 

[Huelague]

Yes that's a country can't even product a good quality pistol.

In these 10 years Our defence products such as tb2 and small arms beat them many times but our civil product badly defeated.The deficit become larger.

We go to supermarket and AVM so many Chinese products or using Chinese parts

Look at our trade volume with China. The government has taken steps to prevent further trade deficit with China.

 

[Bozan]

https://twitter.com/i/web/status/1697558941461278788

Kizilay shopping mall owned by Turkish red crescent bankrupt

 

[Agha Sher]

https://twitter.com/i/web/status/1698606239750500727

 

[B_A]

SEP 04, 2023 11:44 AM
Turkish exports hit an all-time high for August with a 1.6% rise to $21.6 billion (TL 578.38 billion) on an annual basis, according to preliminary data shared by the Trade Ministry on Monday.

Turkish imports dropped 6.3% from last year to $30.5 billion.


The country's foreign trade gap amounted to $8.9 billion in August, falling 21.2% year-over-year.

Germany continued to be the main recipient of Turkish exports with $1.8 billion in August, followed by the United States with $1.3 billion, Iraq with $1.09 billion, the United Kingdom with $1.06 billion and Italy with $877 million.


The country’s largest imports were from China with $3.8 billion in the month. Russia followed with $3.4 billion, Germany with $2.56 billion, the United Arab Emirates (UAE) with $2.08 billion and Switzerland with $1.49 billion.

In the January-August period, Türkiye's outbound shipments edged down 0.4% year-over-year to $164.9 billion, while imports grew 3.5% to $247.3 billion.

As a result, the country's trade deficit widened by 12.1% to $82.4 billion.

Still losing money to China

 

[Huelague]

Still losing money to China

Increase taxes of Chinese import products by 200%.

 

[Ryder]

SEP 04, 2023 11:44 AM
Turkish exports hit an all-time high for August with a 1.6% rise to $21.6 billion (TL 578.38 billion) on an annual basis, according to preliminary data shared by the Trade Ministry on Monday.

Turkish imports dropped 6.3% from last year to $30.5 billion.


The country's foreign trade gap amounted to $8.9 billion in August, falling 21.2% year-over-year.

Germany continued to be the main recipient of Turkish exports with $1.8 billion in August, followed by the United States with $1.3 billion, Iraq with $1.09 billion, the United Kingdom with $1.06 billion and Italy with $877 million.


The country’s largest imports were from China with $3.8 billion in the month. Russia followed with $3.4 billion, Germany with $2.56 billion, the United Arab Emirates (UAE) with $2.08 billion and Switzerland with $1.49 billion.

In the January-August period, Türkiye's outbound shipments edged down 0.4% year-over-year to $164.9 billion, while imports grew 3.5% to $247.3 billion.

As a result, the country's trade deficit widened by 12.1% to $82.4 billion.

Still losing money to China

I worked with so many Chinese people they know to fleece people and they work like ants.

You just cant compete with them.

Work like ants is a postive trait.

 

[B_A]

I worked with so many Chinese people they know to fleece people and they work like ants.

You just cant compete with them.

Work like ants is a postive trait.

The real reason is the white captalists love them,such as Musk.

They work and study likes ants,get good results on papar test,but unless the white captalists gave them the technology,

they were even far backward than late Ottomans

 

[Ryder]

The real reason is the white captalists love them,such as Musk.

They work and study likes ants,get good results on papar test,but unless the white captalists gave them the technology,

they were even far backward than late Ottomans

True but bro their education man. Chinese students study like ants even destroy white kids.

Even at a Islamic school which I went to Asian students normally were a minority even they destroyed lots of Arab and Turkish students with ease.

Their parents dont accept any kind of failure plus they have discipline like ants do.

 

[B_A]

True but bro their education man. Chinese students study like ants even destroy white kids.

Even at a Islamic school which I went to Asian students normally were a minority even they destroyed lots of Arab and Turkish students with ease.

Their parents dont accept any kind of failure plus they have discipline like ants do.

Yes they are invincible in papar test and get results,only Indians can match them in western countries.

But in practice we will win such like TAI and Baykar keeping defeat CHinese giant drone company.

Our childrens didnt won on papar but won on the drone competition in the tenofast.

 

[Heartbang]

@B_ATAMAN @Ryder
Its less about working, and more about fleecing. Listen to this man's escapades to get an idea

 

[B_A]

@B_ATAMAN @Ryder
Its less about working, and more about fleecing. Listen to this man's escapades to get an idea

The white westerner love them so much,　who know how many technology they gave CHina in these 30 years

 

[Ahlatshah]

The white westerner love them so much,　who know how many technology they gave CHina in these 30 years

China put a mandatory Transfer of Technology to the foreign companies for years, in order to sell your products in such a huge market you gladly do it, with this money you develop new techs anyway. Now, with this know how, Chinese create their own technology,

I must say Chinese are hardworking people and have perseverance. Also they have excellent education system and equally important deep-rooted meritocracy tradition. Barring political turmoil, they will be the one who can challenge USA, not now but in the future, both economically and scientifically (they are already leading number of scientific article published)

 

[B_A]

Increase taxes of Chinese import products by 200%.

After our economy become normal,we should push the Uyghur issue,China will angry and sanctions us,then we can sanction their goods.

 

[Bozan]

After our economy become normal,we should push the Uyghur issue,China will angry and sanctions us,then we can sanction their goods.

By the time the economy becomes normal there won't be any Uyghurs left

 

[Bogeyman]

World Bank in Talks to Double Turkey Exposure to $35 Billion​

• Bank to mobilize new $18 billion, adding to existing programs
• Funds to help stabilize Middle East’s largest non-oil economy

The World Bank is in advanced talks to potentially double its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest non-oil economy, according to people with direct knowledge of the matter.

The discussions include a World Bank pledge of as much as $18 billion for projects over the next three years, in addition to more than $17 billion in programs already in place, the people said, asking not to be named because the talks aren’t public. The funding would include direct lending to the government as well as support for the private sector, the people said.

Turkey’s Treasury and Finance Ministry declined to comment on the talks. The World Bank also declined to comment.

The Turkish lira pared its lossets and credit-default swaps fell while the banking index rose as much as 4% on the news.

A deal would mark a vote of confidence in the newly-installed economic administration of Treasury and Finance Minister Mehmet Simsek and central bank Governor Hafize Gaye Erkan. Since they were appointed in June, Turkey has begun to undo years of unconventional, growth-at-all-costs economic policies pushed by President Recep Tayyip Erdogan until his re-election in May. Simsek and Erkan are leading efforts to rein in runaway inflation and put the nearly $1 trillion economy on a more sustainable path.


The World Bank expects two-thirds of the $18 billion to go to Turkey’s private sector through direct investment and guarantees, the people said. Some of the funds would be used to provide short-term guarantees for trade finance and support Turkish exporters, they said.

Quake Reconstruction​

The program currently under discussion highlights the World Bank’s support for Turkish policymakers’ efforts to restore macroeconomic stability, according to excerpts from a draft document viewed by Bloomberg. Simsek and Erkan met with Ajay Banga, the president of the Washington-based lender, in India in July, Turkish state media reported at the time.

Some of the newly dispatched funds will likely be allocated to help in reconstruction of areas devastated by two massive earthquakes that struck Turkey’s southeast on Feb. 6, killing more than 50,000 people.

The government has pledged to build some 200,000 residential units within a year for survivors, and estimated the cost of reconstruction at about $100 billion. The World Bank has already extended a €910.5 million ($980 million) loan to Turkey for rebuilding, part of its existing $17-billion allocation.

Financing Gap​

Following the earthquakes, Turkey’s current-account deficit widened to about 6% of gross domestic product, as exporters in the affected areas suffered outages and ultra-low borrowing costs encouraged imports.


Erdogan went on a tour of the Middle East Gulf in July, returning with pledges of tens of billions of dollars in investments from the United Arab Emirates and Saudi Arabia. The arrangement with the World Bank would mark the biggest source of external financing since Erdogan’s visit to the Gulf petrostates.

Bloomberg - Are you a robot?

 

[Bozan]

World Bank in Talks to Double Turkey Exposure to $35 Billion​

• Bank to mobilize new $18 billion, adding to existing programs
• Funds to help stabilize Middle East’s largest non-oil economy

The World Bank is in advanced talks to potentially double its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest non-oil economy, according to people with direct knowledge of the matter.

The discussions include a World Bank pledge of as much as $18 billion for projects over the next three years, in addition to more than $17 billion in programs already in place, the people said, asking not to be named because the talks aren’t public. The funding would include direct lending to the government as well as support for the private sector, the people said.

Turkey’s Treasury and Finance Ministry declined to comment on the talks. The World Bank also declined to comment.

The Turkish lira pared its lossets and credit-default swaps fell while the banking index rose as much as 4% on the news.

A deal would mark a vote of confidence in the newly-installed economic administration of Treasury and Finance Minister Mehmet Simsek and central bank Governor Hafize Gaye Erkan. Since they were appointed in June, Turkey has begun to undo years of unconventional, growth-at-all-costs economic policies pushed by President Recep Tayyip Erdogan until his re-election in May. Simsek and Erkan are leading efforts to rein in runaway inflation and put the nearly $1 trillion economy on a more sustainable path.


The World Bank expects two-thirds of the $18 billion to go to Turkey’s private sector through direct investment and guarantees, the people said. Some of the funds would be used to provide short-term guarantees for trade finance and support Turkish exporters, they said.

Quake Reconstruction​

The program currently under discussion highlights the World Bank’s support for Turkish policymakers’ efforts to restore macroeconomic stability, according to excerpts from a draft document viewed by Bloomberg. Simsek and Erkan met with Ajay Banga, the president of the Washington-based lender, in India in July, Turkish state media reported at the time.

Some of the newly dispatched funds will likely be allocated to help in reconstruction of areas devastated by two massive earthquakes that struck Turkey’s southeast on Feb. 6, killing more than 50,000 people.

The government has pledged to build some 200,000 residential units within a year for survivors, and estimated the cost of reconstruction at about $100 billion. The World Bank has already extended a €910.5 million ($980 million) loan to Turkey for rebuilding, part of its existing $17-billion allocation.

Financing Gap​

Following the earthquakes, Turkey’s current-account deficit widened to about 6% of gross domestic product, as exporters in the affected areas suffered outages and ultra-low borrowing costs encouraged imports.


Erdogan went on a tour of the Middle East Gulf in July, returning with pledges of tens of billions of dollars in investments from the United Arab Emirates and Saudi Arabia. The arrangement with the World Bank would mark the biggest source of external financing since Erdogan’s visit to the Gulf petrostates.

Bloomberg - Are you a robot?

Re-Dollarization

 

[B_A]

The figure came in higher than market expectations. Estimates in Reuters and Bloomberg surveys were for a deficit of $4.5 billion. The balance registered a $3.5 billion deficit in July last year.

The gap for the January-July period reached $42.3 billion, the central bank data showed, nearly matching the government’s year-end forecast of $42.5 billion that was outlined in the new medium-term program, unveiled last week.

 

[Huelague]

Their parents dont accept any kind of failure

Any idea what this could mean for learning process?

 

[Ryder]

Any idea what this could mean for learning process?

Either they learn to achiever or higher or the pressure gets to them. The problem is they wont settle even for a 90 score.

Pressure is especially huge on Japanese males.