Turkish Economy - News & Updates

[what]

It all began with Erdogan harassing the independence of the central bank for years then doubling down on it and saying something along the lines of that he will make them lower the interest rates. Basically every time he said something dumb the markets reacted. On top of that economic issues like debt or the current account deficit, US threatening and applying sanctions because of the US pastor, S400 and the looming sanctions and much more.

Many emerging markets and their currencies performed bad in the last years, but as far as I know Turkey is only second to Argentina and they were again on the verge of hyperinflation and raised their interest rates to 40%.

Or you can choose to believe that its the interest rate-mafia or the jews/zionists. At least thats what pro government media will tell you.

 

[Islamic faith&Secularism]

https://twitter.com/x/status/1137621791432724480

The state institution for job finding has found 14.800 jobs, and some 7.400 of it for Syrians.

Meantime, The situation for Turks in Turkey:

The unemployment rate in Turkey: %14,7

The total unemployment rate in Turkey, February 2019: %22,1

The unemployment in Turkey, February 2019: 4.730 million

The total unemployment in Turkey, February 2019: 7.105 million

The Fired people in the last 1 year: 800.000

The New Business Start: - 25%

The Business Close: 20% raised


The Turk Statistical Insititute defines unemployment as such:

• If in seek for a job for only the last 4 weeks, if less or more not unemployed.

 

[Exxxe]

Microsoft MEA Technology Center opens in Istanbul

Technology giant Microsoft opened a brand new technology center in Istanbul on Thursday. This is the company's first new-generation technology center in the Middle East and Africa region.

Industry and Technology Minister Mustafa Varank stressed that the opening of the new Microsoft Technology Center is proof of trust in Turkey and demonstrates the technological development in the country. "This center is expected to make a TL 2.5 billion contribution to the Turkish economy," Varank said.

https://www.dailysabah.com/technolo...tanbul-expected-to-create-430m-economic-value

 

[rajvoSa]

https://twitter.com/x/status/1139844386332610560

doc which anyone interested in how part of financial world works should watch. His book goes in much more detail.

 

[Exxxe]

Turkey opens factory for domestic production of train bodies

https://www.dailysabah.com/business...ctory-for-domestic-production-of-train-bodies

 

[CAN_TR]

https://twitter.com/x/status/1142148021897125890

 

[Dai Toruko]

http://www.hurriyet.com.tr/ekonomi/doguda-ihracat-artiyor-41248673

https://www.aa.com.tr/tr/ekonomi/tasarruflu-klozetle-60-ulkeye-ihracat/1510827

 

[Exxxe]

VW reportedly chooses Turkey for new mega factory investment

It is VW biggest factory investment in its history with over 2 BILLION EUROS

There were 5 contenders for the plant but trust in Turkish economy and business environment guaranteed the pick

https://www.dailysabah.com/automoti...hooses-turkey-for-new-mega-factory-investment

 

[Deliorman]

^^

That investment is far from being a sure thing for Turkey until they make it official. In the last few months I have read reports about VW choosing Serbia, Bulgaria, Romania etc and in all of them local politicians and company officials were hinting that Volkswagen is about to choose their country etc and that it’s 90% certain etc.

So far VW is just trying to milk the cows as hard as possible so they can get the best deal. It’s all just a part of negotiating. They say that Turkey is going to back them up with a few hundred millions of Euros for the investment too.

 

[KediKesenFare3]

^^

That investment is far from being a sure thing for Turkey until they make it official. In the last few months I have read reports about VW choosing Serbia, Bulgaria, Romania etc and in all of them local politicians and company officials were hinting that Volkswagen is about to choose their country etc and that it’s 90% certain etc.

So far VW is just trying to milk the cows as hard as possible so they can get the best deal. It’s all just a part of negotiating. They say that Turkey is going to back them up with a few hundred millions of Euros for the investment too.

It's almost certain even according to German newspapers like Handelsblatt. But I don't wanna jinx it.

 

[Deliorman]

It's almost certain even according to German newspapers like Handelsblatt. But I don't wanna jinx it.

And according to news from a few days ago it is almost certain that VW will build their new plant near Sofia, according to Automobilwoche.

They are just trying to pressure the governments of the involved countries for getting the best deal possible but considering the relations between Turkey and Germany and the West in general, don’t expect anything positive.

If in a few weeks Trump puts sanctions on Turkey that will scare away the few ones who want to do business in the country who are left too.

 

[KediKesenFare3]

And according to news from a few days ago it is almost certain that VW will build their new plant near Sofia, according to Automobilwoche.

They are just trying to pressure the governments of the involved countries for getting the best deal possible but considering the relations between Turkey and Germany and the West in general, don’t expect anything positive.

If in a few weeks Trump puts sanctions on Turkey that will scare away the few ones who want to do business in the country who are left too.

Handelsblatt is much more reliable. Secondly, VW has decided to work together with Ford in Turkey. This is a separate issue with no relation to the new plant they're planning to set up.
https://app.handelsblatt.com/untern...kleine-offensive-in-der-tuerkei/24480016.html

This is already great news for Turkey.

With regards to the new plant, Turkey is definitely the front runner. We're willing to pay much more subsidy (several hundred million Euros), the Turkish market is much more important than the Bulgarian market, our skilled workforce is larger, our labour costs is ridiculously low due to the devaluation, we've a great supplier industry, we're in a customs union with the EU which means tax-free export to Europe and almost every important brand is producing in Turkey.

So, yeah, deciding against Turkey would be irrational, however, politics could get in our way. Right now, Turkey is in a much more favourable position - this is what the majority of German newspapers are saying.

 

[CAN_TR]

https://twitter.com/x/status/1144621474549923841

 

[Exxxe]

https://twitter.com/x/status/1144621474549923841

Wait a second

Weren't you saying / agreeing that turkey was out of the G20 and is no longer a member how come now you contradict yourself

Is your sole purpose to be negative and bullsh*t through your posts

In case you forgot you posted a few pages back regarding turkey being out of G20 laughing it off at foreign intervention excuse ( even tho clearly it was a lie )

At least Have consistency in undermining turkey bro it would be good for you

 

[CAN_TR]

Wait a second

Weren't you saying / agreeing that turkey was out of the G20 and is no longer a member how come now you contradict yourself

Is your sole purpose to be negative and bullsh*t through your posts

In case you forgot you posted a few pages back regarding turkey being out of G20 laughing it off at foreign intervention excuse ( even tho clearly it was a lie )

At least Have consistency in undermining turkey bro it would be good for you

If you look at the numbers Turkey will be out of G20 end of 2019, Saudi Arabia, Switzerland and maybe Taiwan will surpass us.
What i really said was, "It's because foreign powers you traitors...".

There is nothing positive about Turkish economy, i don't sell dreams sorry Mr.Businessman.

Undermining Turkey? How about you do us and Turkey a favour and jump from the next bridge, lowlife economic parasite?!

Go ahead call the Mods.