TR Economy & Updates

[Zafer]

We won't be belly-dancing for foreign investment down the road. Not all efforts can be made to get economy in good shape. Some efforts need to be made to fix geopolitical situation too. So at some point we can still see downturns, until we reduce our energy bills.

 

[B_A]

"I didn't expect Japan to turn into a Turkish lira when I made a forecast for the Nikkei Stock Average of 300,000," said Emin Yurumazu, an economist for Tokyo's Million Eyes who hails from Turkey, alarmed by the situation. "That wouldn't make me happy."

Yurumazu was likening the yen to Turkey's national currency in a satirical way. In Turkey, policy rates were maintained below the inflation rate -- leading to net negative interest rates -- amid prolonged double deficits in the fiscal balance and the current account balance, which led to a negative spiral of higher prices and a weaker national currency.

Over a period from March 2020, when the COVID-19 pandemic broke out, to October 2023, the yen's real effective exchange rate dropped 29%, compared to a 21% drop for the Turkish lira. The real effective exchange rate is an index indicating a currency's relative purchasing power, calculated with price and trade changes taken into consideration.

The Turkish lira plunged more than 70% in nominal terms over the same period, but this was attributable to the country's annual inflation rate of more than 60%. Excluding this impact, the fall was smaller than that of the yen.

This situation "highlights weakening of the yen in substance," said Toru Sasaki, chief strategist at the Fukuoka Financial Group. Japan is the world's largest creditor, but its gross government debt is far larger than Turkey's.

According to Bank of Japan statistics, the net outflow of funds to overseas through securities investment trusts -- the difference between the amount invested and the amount collected -- totaled 105 trillion yen from January 2000 to June 2023. The statistics show a trend for funds to flow out during cycles of a weaker yen, observed from 2005 to 2007, 2013 to 2015 and from 2020 to now. A new program exempting taxes on small investments, called NISA, that will be introduced in January has the potential to make this stream of individual money into a river. This is the second year-2024 problem for the yen.

Japanese yen has two problems on the horizon in 2024

Confidence in the world's largest creditor is at risk of weakening

asia.nikkei.com

 

[B_A]

Türkiye to end 2023 with single-digit unemployment, 4.4% growth

Türkiye eyes to conclude the year with single-digit unemployment and a growth rate of 4.4%, Vice President Cevdet Yılmaz said on Friday, hailing the...

www.dailysabah.com

Türkiye eyes to conclude the year with single-digit unemployment and a growth rate of 4.4%, Vice President Cevdet Yılmaz said on Friday, hailing the positive streak in the gross domestic product (GDP) figures despite the early February earthquakes

 

[B_A]

Nothing to happy but at least this year Our GDP (nominal) per capita will be better than China.

But we are lower than Bulgaria.

 

[UkroTurk]

Not too bad but need to have more brain and capital

 

[Strong AI]

The Central Bank Monetary Policy Committee, which held its last meeting of the year,
increased the policy rate by 250 basis points to 42.5 percent.

 

[Bozan]

https://twitter.com/i/web/status/1737777283736178914

Is this an increasing or decreasing trend ?

40% of the youth want to live/study abroad

 

[what]

The Central Bank Monetary Policy Committee, which held its last meeting of the year,
increased the policy rate by 250 basis points to 42.5 percent.

Slow down in the pace is good, if not politically motivated, its a good sign that the highest level of inflation is almost past us.

https://twitter.com/i/web/status/1737777283736178914

Is this an increasing or decreasing trend ?

40% of the youth want to live/study abroad

If you compare that with the Turkish refugee application numbers in Germany, there's no slow down of arrivals.

 

[Strong AI]

If you compare that with the Turkish refugee application numbers in Germany

From ZEIT ONLINE:
"Hüseyin Imrak ist nur einer von Zehntausenden, die 2023 aus der Türkei nach Deutschland kamen, aber es gibt ein Merkmal, das seinen Fall repräsentativ macht: Imrak ist Kurde, so wie die meisten türkischen Staatsangehörigen, die in Deutschland Asyl beantragen. 84 Prozent gaben laut Bamf an, kurdischer Herkunft zu sein. Obwohl diese Gruppe in der Türkei, je nach Schätzungen, nur etwa ein Fünftel der Bevölkerung ausmacht."

"Hüseyin Imrak is just one of tens of thousands who came to Germany from Turkey in 2023, but there is one feature that makes his case representative: Imrak is Kurdish, like most Turkish nationals applying for asylum in Germany. According to Bamf, 84 percent said they were of Kurdish origin. Although in Turkey, according to estimates, this group only makes up about a fifth of the population."

 

[Bozan]

Three out of 1000 companies in Turkey are large companies and they realize approximately 30% of employment, 74% of production value and 68% of exports; There is a serious concentration of capital in the country.

https://twitter.com/i/web/status/1738118971134546191

Russification

 

[Ecderha]

Three out of 1000 companies in Turkey are large companies and they realize approximately 30% of employment, 74% of production value and 68% of exports; There is a serious concentration of capital in the country.

https://twitter.com/i/web/status/1738118971134546191

Russification

More like izraelification. Which is normal for West standards. It is called democracy

 

[what]

R

From ZEIT ONLINE:
"Hüseyin Imrak ist nur einer von Zehntausenden, die 2023 aus der Türkei nach Deutschland kamen, aber es gibt ein Merkmal, das seinen Fall repräsentativ macht: Imrak ist Kurde, so wie die meisten türkischen Staatsangehörigen, die in Deutschland Asyl beantragen. 84 Prozent gaben laut Bamf an, kurdischer Herkunft zu sein. Obwohl diese Gruppe in der Türkei, je nach Schätzungen, nur etwa ein Fünftel der Bevölkerung ausmacht."

"Hüseyin Imrak is just one of tens of thousands who came to Germany from Turkey in 2023, but there is one feature that makes his case representative: Imrak is Kurdish, like most Turkish nationals applying for asylum in Germany. According to Bamf, 84 percent said they were of Kurdish origin. Although in Turkey, according to estimates, this group only makes up about a fifth of the population."

Thanks for the statistic but
Turkish Kurds are still Turkish citizens
And it is easier to get asylum if you have some kind of minority ish background

 

[Strong AI]

And it is easier to get asylum if you have some kind of minority ish background

"Imrak says his asylum application was rejected. He sued against this. The chances are moderate; in the case of Kurdish asylum seekers, the administrative courts only contradicted the Bamf's assessment in one out of six cases in the first half of the year."

"Only 4.7 percent of Kurds from Turkey received protection status this year (for ethnic Turks it was every second). Anyone who can prove a politically motivated criminal case has a chance. Or who plays a prominent role in the pro-Kurdish HDP party, whose officials often end up in prison on terrorism charges."

 

[Bozan]

https://twitter.com/i/web/status/1738161072543027633

50% of world citizenships sold are Turkish citizenships

https://twitter.com/i/web/status/1738468181541277908

 

[I_Love_F16]

https://twitter.com/i/web/status/1738161072543027633

50% of world citizenships sold are Turkish citizenships

https://twitter.com/i/web/status/1738468181541277908

Selling citizenship like it's worthless. This is pure treason, there's no other word to qualify this.

 

[BalkanTurk90]

Selling citizenship like it's worthless. This is pure treason, there's no other word to qualify this.

U funny but to remember u every country on earth 'sell' tgeir passport . For Turkiye will be better if choose Israeli path , giving passport for free ex Ottomans ( northern Muslims ) and do the opposite with Separatist ones .

 

[Bozan]

U funny but to remember u every country on earth 'sell' tgeir passport . For Turkiye will be better if choose Israeli path , giving passport for free ex Ottomans ( northern Muslims ) and do the opposite with Separatist ones .

There's no discrimination, anyone buying property that can be made to be 'valued' at 400,000 gets a passport. Easier for non-muslims or Muslims from wealthy countries, or corrupt Muslims from non-wealthy countries.

 

[Tornadoss]

U funny but to remember u every country on earth 'sell' tgeir passport .

that is BS.

 

[Rodeo]

U funny but to remember u every country on earth 'sell' tgeir passport .

which countries are those? Are you confusing residency with citizenship(passport)?

 

[Sanchez]

U funny but to remember u every country on earth 'sell' tgeir passport . For Turkiye will be better if choose Israeli path , giving passport for free ex Ottomans ( northern Muslims ) and do the opposite with Separatist ones .

Untrue. Most countries give residency after a certain value of real estate is bought and then gives a route to citizenship after some years, usually 2 to 8, of which most of that time you should live in that country.

Only tax havens, banana republics and ex colonies sell their citizenship without ever setting foot in the country. A month ago 2 men were apprehended in a SEA state for money laundering and selling drugs, one of them was a Turkish citizen. Except this dude was an Indian that never set foot in Turkey in his life. Yet he had a Turkish passport. This is not okay.