Turkish Economy - News & Updates

[TrMhMt]

But how?

It's obvious. It's lie and fake numbers. Just like China.

If our economy is growing so why our unemployed number is growing too? Our current unemployed rate is 11.12%.

Those statics come out from the same source and that source is unreliable source. Just like our inflation rates. Source says our annual inflation very low but we all know that oil price every god darn day rises up but magically our inflation is always low.

As you say. Currently our state is having huge difficulties. A lot negative events happened/happening for our economy but again our economy is magically growing.

Yeah sure growing.

 

[hacibin]

Well, that was unexpected. Nearly %5 growth rate is a great number despite all negative athmosphere including rising terror attacks on the Western cities, military operations on the East and our martyrs, downing Russian jet incident and its reflections to the economy as tourism and export decline, civil war and unstability at neighbors, domestic politic disputations like swapping to the presidental system, HDP and immunity problem. We are doing good... But how?

It's because natural potential growth rate of Turkey is around %8-9 band. Anything lower than %7 is a failure.

 

[Zulkarneyn]

It's because natural potential growth rate of Turkey is around %8-9 band. Anything lower than %7 is a failure.

If that's the natural growth rate, how come the 60s 70s 80s and 90s were devastatingly bad in the economy? Due to political uncertainty, terror, what was it that halted our development for all these decades?

 

[hacibin]

If that's the natural growth rate, how come the 60s 70s 80s and 90s were devastatingly bad in the economy? Due to political uncertainty, terror, what was it that halted our development for all these decades?

I can compare with only post 1980 when Turkish economy opened up to the global market. These times aren't an exception either. They were failures.
On average Turkish economical growth is roughly %5. This rate increased up to %9 in some of stabilized political periods. Turkey is a developing nation, we can't afford growing less than %7 because we add roughly 1 million people to our population every year.
The first half of AKP development was brilliant, but in the second half period especially after global crisis, the growth rates are just almost bare minimum.

 

[RPG]

 

[KingWest]

This is really mind boggling how well we do, especially with the civial war in Syria and Iraq, the economic problems in Greece etc

 

[Zulkarneyn]

This is really mind boggling how well we do, especially with the civial war in Syria and Iraq, the economic problems in Greece etc

It's confidence and regardless of problems in our immediate sorroundings even inside our borders we manage to keep going. Once we've annihilated the PKK threat, international investors will raise their investments in Turkey, because if you think about it, There is a huge growth market west east and south of Turkey. Balkan countries, even those who joined the EU need a strong Turkey to build up their economies, their economies grow and with growth import-export grows as well. The same is true for Middle East as well, Jordan, Iraq, Iran KSA, etc. These growth markets will benefit Turkey in short and long term. They will need cars (manufactured in Turkey), constructions like airports, hospitals infrastructre etc. where Turkish firms are among top competitors (North African growth markets require these as well).

 

[KediKesenFare3]

Turkey runs budget surplus of $1.26B in May


Surplus during Jan.-May period stood at $3.1 billion, says finance minister

15.06.2016 Bahattin Gönültaş Ankara Turkey, world, economy, todays headlines

http://aa.com.tr/en/economy/turkey-runs-budget-surplus-of-126b-in-may/590121

 

[KediKesenFare3]

Turkey absorbs almost half of global private infrastructure investment in 2015: World Bank

CİHAN photo

As global private infrastructure investment in 2015 mostly remained steady at $111.6 billion, Turkey raised the bar with the financial closure of seven projects for a record $44.7 billion, said the World Bank in a news release on June 13.

According to new data from the World Bank Group’s Private Participation in Infrastructure Database, Turkey absorbed some 40 percent of global investment with two megadeals in transport: Istanbul’s $35.6 billion IGA Airport (including a $29.1 billion concession fee to the government), and the $6.4 billion Gebze-İzmir Motorway, which is expected to cut the travel time between Istanbul and the Aegean city of İzmir dramatically.

Though on par with the previous year, global private infrastructure investment in 2015 was 10 percent lower than the previous five-year average because of dwindling commitments in China, Brazil, and India, according to the statement.

Brazil in particular saw only $4.5 billion in investments, sharply declining from $47.2 billion in 2014 and reversing a trend of growing investments over the last five years.

“Though these three historical heavyweights amassed 44 percent of all global projects, their combined investment was only 10 percent of the total compared to 54 percent in 2014,” noted the World Bank
“The data finds that investments in other emerging economies increased rapidly to $99.9 billion, representing a 92 percent year-over-year increase,” said Clive Harris, Practice Manager, Public-Private Partnerships, World Bank Group.

“Eleven of these countries committed at least $1 billion in 2015, well above previous years with several countries reemerging from a two-year or more hiatus to include El Salvador, Georgia, Lithuania, Montenegro, Uganda, and Zambia. Regionally, private infrastructure investments stepped up in Africa and Europe and Central Asia but fell behind in East Asia Pacific, Latin America and the Caribbean, the Middle East and North Africa, and South Asia,” added Harris.
(...)
http://www.hurriyetdailynews.com/tu...bank.aspx?pageID=238&nID=100463&NewsCatID=344​

 

[Bismarck]

Turkey runs budget surplus of $1.26B in May


Surplus during Jan.-May period stood at $3.1 billion, says finance minister

15.06.2016 Bahattin Gönültaş Ankara Turkey, world, economy, todays headlines

http://aa.com.tr/en/economy/turkey-runs-budget-surplus-of-126b-in-may/590121

Unbelievable. Turkey has on of the highest gasoline prices worldwide. Which is at the same time Turkeys main tax revenue. If you think the current low oil prices, it unbelievable.

 

[Zulkarneyn]

If you think the current low oil prices, it unbelievable.

What's unbeliavable, that people still drive cars or the budget surplus that you think mainly comes from fuel taxation? Or that prices in fuel is still high in Turkey?

 

[A friend]

Unbelievable. Turkey has on of the highest gasoline prices worldwide. Which is at the same time Turkeys main tax revenue. If you think the current low oil prices, it unbelievable.

Lol

 

[KediKesenFare3]

Unbelievable. Turkey has on of the highest gasoline prices worldwide. Which is at the same time Turkeys main tax revenue. If you think the current low oil prices, it unbelievable.

http://www.globalpetrolprices.com/gasoline_prices/

 

[Bismarck]

What's unbeliavable, that people still drive cars or the budget surplus that you think mainly comes from fuel taxation? Or that prices in fuel is still high in Turkey?

That even the low fuel prices, Turkey has a budget surplus. I have been told me, that the only taxation Turks pay, are fuel taxation.

http://www.globalpetrolprices.com/gasoline_prices/

Understood. But, our income per capita is four times higher.

China : 0.96$
Hong Kong : 1.88$

 

[KediKesenFare3]

That even the low fuel prices, Turkey has a budget surplus. I have been told me, that the only taxation Turks pay, are fuel taxation.



Understood. But, our income per capita is four times higher.

Number of road motor vehicles per 1000 inhabitants:
http://de.statista.com/statistik/daten/studie/163407/umfrage/pkw-dichte-in-ausgewaehlten-laendern/