Turkish Economy - News & Updates

[Adıvar]

We have an uneducated workforce, therefore inefficient. And they lack the working ethics too.

Our workers must spend 2x - 3x the times that Germans spend to accomplish the same job.

Therefore too much work with little to no value creation. High unemployment rate doesnt help things too.

The workers are the last we can blame on the present status...

 

[Bismarck]

Yes. It is.
Politicians never make mistake. It is always "external powers" or the oppositions who ruin the country.

Look, how Trump's speech is similar to Erdoğan's...

https://twitter.com/x/status/1033688658719764480

Thanks for enlightening.

 

[what]

Lira is going to go up again and the gain will start in 4 days.

Thank you.

So where was the gain? Need to check your calculations again?
https://www.bloomberg.com/quote/USDTRY:CUR

 

[BHarwana]

So where was the gain? Need to check your calculations again?
https://www.bloomberg.com/quote/USDTRY:CUR

Relax bro it is going to start. The current price is 6.2 now watch today Lira will gain.

Can I quote you when it gains or will you get angry?

 

[what]

Relax bro it is going to start. The current price is 6.2 now watch today Lira will gain.

Can I quote you when it gains or will you get angry?

I'd be happy if Lira gains. Makes it easier for the Turkish companies and also for Galatasaray to buy a decent striker.
My point is another though, that you cant predict the market. So yes you may mark me after you made an prediction again.

 

[EasyNow]

To give an example. My father booked a taxi (the owner of his rental car) to go to the airport , around 7 in the morning, in Turkiye.
7: o clock, taxi didnt show up
7:15: no sign of life
7:30: father calls the man couple of times, now he answers and tells he will be there in 5 minutes
7:45: taxi driver is still not there
8: my father calls him and tells him he will leave himself, and leave the rental at the airport of he is not there in 1 minute
...
8.30: the man arrives and tells my father he wanted to sleep in a couple of minutes etc. Next he asks my father when is flight is, and says him not to worry.
=> father nearly missed his flight. He was just on time, but thats because he knows how fuckt up people's work ethics are in Turkey so he could plan it in.

Thats the Turkish mentality, giving no fucks about someone else and working relaxed

Lol The same thing happened to me on holiday. Somehow they never miss the flight though!

 

[Deliorman]

https://twitter.com/x/status/1034482788433637376

 

[Deliorman]

Turkey has dived headfirst into a 'steep' and 'deep' recession

https://amp.businessinsider.com/tur...s-2018-8?utm_source=quora&utm_medium=referral

Turkey's economic confidence index down 9% in August

https://www.dailysabah.com/economy/2018/08/29/turkeys-economic-confidence-index-down-in-august

 

[Nike]

Turkey is heading in the wrong direction. Hot money flows in flows out to make quick profit. Unless Turkey addressing fundamental problems: trade deficit, tension with the West,foreign debts,more consumption than production,weak manufacturing, domestic religious fatalism and terrorism. Blaming the Jews,the US, media inland and overseas, and I don’t know...nothing will change.

Many speculants out there behave like you with your private money: betting on lira fluctuation. On high and higher lending rate. Turkey profits nothing because the money is not invested to increase production.

You know nothing about Vietnam economy let alone Turks one. Your opinion about Turkish produce less, investment on hot money and so on is all not true. On contrary, Turk is major manufacturing power in middle east and Southern Europe, they still attract investment on manufacturing and production and services

http://www.hurriyetdailynews.com/tu...its-fastest-rate-in-almost-seven-years-126627

The major fundamental challenge for current Turkey economy is fluctuation of Lira caused by volatile internal politics after the recent failed coup cases and being surrounded by conflict ridden neighbours. Lira had a long up and down history, in the past Lira will be significantly weakened each time Uni Sovyet and Western forces relationship goes hot and unstable.

 

[Deliorman]

@BHarwana, btw how is the Lira going? How much did it gain today?

 

[BHarwana]

@BHarwana, btw how is the Lira going? How much did it gain today?

Lira went down today but lira is going to gain just a temporary adjustment before gain.

 

[Deliorman]

Lira went down today but lira is going to gain just a temporary adjustment before gain.

Do you want to make a friendly bet with me about what will be the value of the Lira by the end of the year? I think it will be around 8 for a Dollar. What do you think?

 

[Successwill]

Lira went down today but lira is going to gain just a temporary adjustment before gain.

I dont think so. Look at this website https://dovizborsa.com/ These hungry dogs are waiting for an opportunity to buy $ against Lira. There are some idiots among them who bought USDTRY when the price was 6.80. While a lot of people from brother countries buy Lira, these faggots buy dollars againts lira..

While they have the opportunity to trade pairs like EURUSD, GBPUSD etc etc. They choose to screw their own currency, economy, country..

Lira went down because of domestic demand(to dollar) mostly.

 

[xenon54 out]

I dont think so. Look at this website https://dovizborsa.com/ These hungry dogs are waiting for an opportunity to buy $ against Lira. There are some idiots among them who bought USDTRY when the price was 6.80. While a lot of people from brother countries buy Lira, these faggots buy dollars againts lira..

While they have the opportunity to trade pairs like EURUSD, GBPUSD etc etc. They choose to screw their own currency, economy, country..

Lira went down because of domestic demand(to dollar) mostly.

There is a reason for the demand, what private people trade has no value in the bigger picture its the investors and big companies that matter.
You cant measure business interests with patriotic feelings even Harley Davidson, the icon of american patriotism shifted its production to Europe because of Trumps idiocy.
The more you people and our politicians behave the way they do the more Turkish economy will loose.

 

[Saithan]

Economic crisis result of AKP policies: CHP leader

The ruling Justice and Development Party’s (AKP) policies have driven Turkey to an economic crisis, main opposition Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu has said, stressing the recent tension between the U.S. and Turkey was “just a small fragment of a wider problem.”

“The crisis was already there. It has nothing to do with the American pastor,” Kılıçdaroğlu said Aug. 29 before a CHP assembly meeting.

Kılıçdaroğlu was referring to U.S. pastor Andrew Brunson, whose arrest in Turkey has been at the heart of strained ties between the two NATO allies. In anger over the pastor’s arrest, U.S. President Donald Trump threatened to slap “large sanctions” on Turkey late July and doubled tariffs on Turkish imports.

Trump’s move led to the Turkish Lira to drop to historic lows against the greenback.

Kılıçdaroğlu stressed the recent currency crisis in Turkey was the result of the AKP’s economic growth policies, criticizing President Recep Tayyip Erdoğan, who has been blaming “foreign powers” for attacking the Turkish economy.

Kılıçdaroğlu accused the AKP government of years-long cronyism, saying big contracts were given specifically to pro-government businesses during their rule. “Was it the foreign circles that told you to give all big contracts based on the U.S. dollar?” the CHP leader said.

“You gave contracts in dollars. Was it the foreign powers that told you to tell business owners to generate revenue in dollars?” he added.

“Was it the foreign powers that told you to make the state a guarantor for the pro-government businesses’ foreign debts of their $123 billion worth projects? Was it the foreign powers that told companies that don’t have any revenue in foreign currencies to be in debt in a foreign currency?” he added.

Kılıçdaroğlu urged the government to convene the Economic and Social Council of Turkey, which gathers the government, civil society and unions, to come up with an economic plan.

“The council which should be convened every three months hasn’t convened since 2009. It is a constitutional obligation,” he said.

The advisory body was founded in 2001 with aims to form an economic planning mechanism that gathers government officials, bureaucracy, business circles, and employer and labor unions. The council last held a meeting in 2009.

source: http://www.hurriyetdailynews.com/economic-crisis-result-of-akp-policies-chp-leader-136265

____________________

I was unaware that AKP made contracts in USD, so all of a sudden it's starting to make more sense. AKP can keep the construction projects going because the companies are promised payment in a currency that isn't going to drown in inflation. The only ones who're going to suffer are the citizens who're paid in TL.