New era, new chance, old economy, old minister… Mehmet Simsek he officially took office, but what does he have? money what a magic wand…
The most important expectation is that he does not receive instructions from any authority in line with his duties and powers… That is, he is independent… Time will tell us…
Playing the game expected from him according to the book… Following the rules… In other words, doing what was not done in the previous period…
nobody high interest doesn’t want to. However your interest Nor can it ignore the side effects of bad management.
When you said you would be a super power for years, you became a super market. You lived by not producing, borrowing from abroad. Your money finished. Central Bank reserves 75 billion dollars around minus… Well? What’s the fix? Just the intention… interest rates intending that you can rise…
Patience, patience, patience!
as it stands by Mehmet Şimşek His first statement was “we need some patience and time”.
So where to start? It has already begun… Turkey’s urgent priority problem foreign currency It is obvious that there is a lack of it… The price of the non-existent increases. Indeed, for this reason dollar…
As a matter of fact, when there were cancellations due to price in tourism, even though there were objections at first, they were compelled to free market pricing…
On the other hand, imports had to be made expensive in order to close the foreign trade deficit. For this reason, the Turkish lira should have depreciated. As a matter of fact, the intervention in the market through public banks was ended.
Even this small move reduced Turkey’s bankruptcy risk CDS indicator from 700 to 480. How much we missed normalization… The question in mind is will it continue like this?
The hope of a return to normal reduces the balance of payments risk. This alone is enough to show how absurd the period we are in is. Are we really out?
Will this debris be lifted?
Of course, there will be a bill for delaying the increase. If we calculate briefly as follows, Turkey’s foreign debt at $459 billion… The cost of increasing the dollar from 19 to 24 is 2.3 trillion liras…
It’s hard to comprehend when the numbers are this big, but I think it’s better if we go as Turkey’s 2023 budget is 4.6 trillion liras…
Now, just as we have fallen into deprivation, people say, “We will be transparent,” and people rejoice! Saying “We will give account” is considered success!
Isn’t that what they’re supposed to be anyway? You went to the grocery store, you asked for 150 grams of cheese… The grocery store weighed it, rolled it up, and gave it to you. “Wow good luck!” Can you say? He did the man’s job.
The mistakes made due to insufficient capacity and merit in efforts to fix the economy have put us in an environment where we are drawn into like a black hole and where we don’t know where it is taking us…
Lightning decor or performer?
by Mehmet Şimşek Obviously the investor has a loan. The wreckage has taken over as it is… The main exam is on June 22… Interest Will there be an increase?
During the election period and in his balcony speech, President Erdoğan clearly gave the message of continuing his low interest policy. What will it be?
Under normal conditions, it has to be increased with the current economic outlook at room temperature… All these things will go to waste otherwise…
On the other hand, he has a disastrous budget…
Even the promises made are almost the size of the 2023 budget… Public workers’ salaries, EYT, recruitment of contracted employees, civil servant salary increase, increase in the retirement holiday bonus, the lowest pension, earthquake expenditures… Countless.
It is a very difficult process… What the market will observe from now on, let’s see. Mehmet Simsek Will it be used as a decor or will it really have a say in the management of the economy?
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.