Turkish Economy - News & Updates

[xenon54 out]

Im not an economic expert, but if im not mistaken, for example SK has a very positive trade surplus, yet they also have a good growth. Am i overlooking some factor? Could you explain how you came to this conclusion bro?

But they have a huge export, while we lack in this field.

 

[usernameless]

But they have a huge export, while we lack in this field.

If @olcayto was talking specific about Turkey's case, then he's right. I interpreted his msg as if he was stating in general, hence my surprised reaction. Thanks for clarifying what he meant.

 

[xenon54 out]

If @olcayto was talking specific about Turkey's case, then he's right. I interpreted his msg as if he was stating in general, hence my surprised reaction. Thanks for clarifying what he meant.

No, hes talking specifically about Turkey, our current situation cant handle a radical intevention on Imports, thats why he says it must be done balanced.

 

[olcayto]

Im not an economic expert, but if im not mistaken, for example SK has a very positive trade surplus, yet they also have a good growth. Am i overlooking some factor? Could you explain how you came to this conclusion bro?

South Korea has a surplus because their products are high in demand and high in value.

Turkey has mid valued goods. Export grows but it can not keep up with imports. The imports were fueled by foreign cash flow into Turkey, easy access to loans and low interest rates. Because of this Turks have been living above their standards for a while now.

To close this trade deficit Turkey will increase exports and decrease imports.
The latter one will be accomplished by decreasing the purchase power of its citizens.

Basically,
less purchase power means less consumption(local and imports), less consumption means less manufacturing, less manufacturing means less investment and this all means less economic growth.


If they don't balance the decrease in consumption and increase in exports right it can hurt the economy.

Luckily a cheap tl and a recovering euro zone makes this task a bit easier.

 

[xenon54 out]

Because of this Turks have been living above their standards for a while now.

Thats really a problem, they almost throw the Credit Cards after you in Turkey, people have 2-3 Credit cards.

 

[olcayto]

Thats really a problem, they almost throw the Credit Cards after you in Turkey, people have 2-3 Credit cards.

Yeah good old days. You know what's funny they would give a loan to buy a car to a asgari ücret li, but they wouldn't give me one dime . I have taken 3 loans on the name of my relatives. One was already paying 1400 tl a month to his mortgage, yet he still managed to get a car loan of 800 tl

 

[xenon54 out]

Yeah good old days. You know what's funny they would give a loan to buy a car to a asgari ücret li, but they wouldn't give me one dime . I have taken 3 loans on the name of my relatives. One was already paying 1400 tl a month to his mortgage, yet he still managed to get a car loan of 800 tl

I heard the private debts in Turkey is enormous, its just like pre 2009 US where the real estate crisis began, too many easy credits have been given, i have a bad feeling about this.

 

[Hakan]

A man in debt is so far a slave.
Ralph Waldo Emerson

 

[xxxKULxxx]

İhracat arttı

 

[Targon]

Indeed, everybody is paying credit debts, some people think its thanks to government people get a bit better at affording things, its in fact only thanks to credits, including my own family, we got better thanks to credits, if my father was not hard working we couldn't pay credit debts , it was literally gamble.

 

[Hakan]

Work on 1st Turkish nuclear plant to begin in May​

Construction of Turkey’s first nuclear plant will begin in May if an environmental impact report wins approval.

The report on the Akkuyu nuclear power plant has been submitted to the Environment and Urban Planning Ministry for evaluation. According to government officials, the Environmental Effect Evaluation Report could be approved in May.

The plant's deputy general manager, Rauf Kasumov, said that even if there are small delays as a result of the report, construction of the nine-year project will be on target. The project is expected to cost about $20 billion.

The first draft of the report was not approved because additional information needed to be added. With the additions, the 3,000-page report grew to approximately 3,500 pages.

Turkey currently relies heavily on foreign energy resources, including natural gas and oil, which account for almost half of all electricity production and cost up to $60 billion a year. The investment in nuclear power is intended to diversify the country's energy resources.

Akkuyu will consist of four reactors. It will be built in the city of Mersin, on the Mediterranean coast, by Rosatom, a state-owned Russian company. Russia and Turkey agreed on construction of the plant in 2010. It is scheduled to be fully operational by 2023, when Turkey will celebrate its 100th year as a republic.

Work on 1st Turkish nuclear plant to begin in May | General | Worldbulletin News

 

[xxxKULxxx]

Sanayi üretimi arttı


&


İstanbul - Ankara High Speed Train will be opened in May 29... It's being tested now...

As a result of our people's colour choice it is being painted... Not finished yet...

At the end it will be like this >>>

I chose this >>>

From these but it didn't win...

Chosen one is also nice IMO... Also it's our colour... Turquoise...

Here is the train...

The Velaro family - Mobility - Siemens

At the bottom of the page...

 

[xenon54 out]

Turquoise color was my choice glad they took it.

 

[xxxKULxxx]

@xenon54

Our Turquoise Baby is ready...

Siemens Velaro TR...

Before we bought our High Speed Trains from CAF company now we added Siemens Velaro TR...

CAF...

CAF-Construcciones y Auxiliar de Ferrocarriles, your railway solutions

And indigenous High Speed Train is on the way...

 

[xxxKULxxx]

Addition...