TR Economy & Updates

[Deliorman]

Everything is thanks to over- taxation on all honest working Turks from the middle and low-middle class who work like slaves so that some parasites can live comfortably on state budget wages and others that are not even paying their medical and electricity bills.

What a miracle.

 

[Huelague]

Everything is thanks to over- taxation on all honest working Turks from the middle and low-middle class who work like slaves so that some parasites can live comfortably on state budget wages and others that are not even paying their medical and electricity bills.

What a miracle.

Are you serious?

 

[B_A]

Lets share some good news
Amid the rapid, unprecedented, rise in the net foreign reserves
Turkey's net foreign reserves, including KKM, have officially turned positive

In other words, Turkey now can pay all of the remaining KKM accounts without resorting to swaps or debt and yet still have some money left

I still cant believe that Turkey was on the verge of bankruptcy, unless they sold their gold reserves, a year ago

Erdogan should build a statue for Mehmet Simsek, I swear

https://twitter.com/i/web/status/1854496872573833385

BTW even in the worst time,the GDP of Turkey still in growth and without any decline within these years.

We have 15666 USD GDP this year and maybe pass 20k soon.

As a comparsion Japan GDP gdp per capita was 49000 in 2012 but only 32000 in 2024,my japanese friends are sad that S.KOREA (36000 in 2024) has lag them so much.

 

[godel44]

Lets share some good news
Amid the rapid, unprecedented, rise in the net foreign reserves
Turkey's net foreign reserves, including KKM, have officially turned positive

In other words, Turkey now can pay all of the remaining KKM accounts without resorting to swaps or debt and yet still have some money left

I still cant believe that Turkey was on the verge of bankruptcy, unless they sold their gold reserves, a year ago

Erdogan should build a statue for Mehmet Simsek, I swear

https://twitter.com/i/web/status/1854496872573833385

Turkey was not on the verge of bankruptcy. The problem was high inflation, not a balance of payments crisis. Things would have to be really weird for a country to become bankrupt with such a low debt to GDP ratio.

 

[Rooxbar]

Lets share some good news
Amid the rapid, unprecedented, rise in the net foreign reserves
Turkey's net foreign reserves, including KKM, have officially turned positive

In other words, Turkey now can pay all of the remaining KKM accounts without resorting to swaps or debt and yet still have some money left

I still cant believe that Turkey was on the verge of bankruptcy, unless they sold their gold reserves, a year ago

Erdogan should build a statue for Mehmet Simsek, I swear

https://twitter.com/i/web/status/1854496872573833385

Without Şimşek, we'd be royally fucked. He has managed the crisis masterfully within his purview. But still @Deliorman's point stands that since he cannot touch the rent, wasteful overspending for useless stuff, giving huge contracts to their tarikat-holdings for 3x the reasonable price, and huge amounts of corruption in myriad ministries, he had to resort to over-taxation, and his taxation schemes were mostly on expenditure by middle-income families.