quinta-feira, 7 de agosto de 2014

Turkey's economy is at a crossroads

But his pride wavered when the economy gave signs of weakness last year, due to internal problems caused by a huge corruption scandal in December, and when the people came out to the street and copped by misfortunes. Like many other developing countries, Turkey faced with the inccerteza markets, volatile exchange rates and the need to resize the perspectives.

-According to the experts, the weak point of the Turkish economy is the current account deficit. Total credit debt of individuals is of 343 billion Turkish liras (161 billion and, according to official figures, around 645 thousand people not dampened their credits in the first half of the year.

But the Turks ' opinions are divided:

Thank God, business was so bad before. Now is better â€" says a salesman.

Another merchant, thinks otherwise: â€" my opinion was always the same: the situation is not good. The budget deficit is large. Prices are always rising, but nobody talks about it. I think we're in a bad way. ".

Yes, like all marketers, I'm indebted otherwise was impossible. Who is the dealer who works with equity? We all owe money to the Bank, to finance or insurance ... everyone owes money.

The Turkish economy grew by 4.3 percent in the first quarter of the year, surpassing projections from the International Monetary Fund and the World Bank, and, surprisingly, did better than the countries of the European Union.

However, Turkey remains vulnerable. The first big problem is dependence on foreign funds. A structural imbalance due to monetary policies that have not worked in other places ...

UÄŸur Gürses, journalist of the newspaper of radical economy â€" the American central bank talks of increasing interest. It is important, the interest will increase in the coming months, what will resonate in Turkey. There will be less investment, many investors are from Turkey. In the current environment, politicians want a stronger growth. But there are no funds for such. I think we will see a slowdown in the Turkish economy.

Official Turkish sources ensure that the concerns are exaggerated. In an effort to maintain the high growth (which is the main cause of the popularity of the ruling party, the AKP), the Government is boosting a new cut in interest rates to help reduce inflation, which accelerated to 9.3% in July.

This strategy opposed Erdogan to the Governor of the Central Bank of Turkey, Erdem Basci, fueling rumors about his resignation.

Cemil Ertem, Turkish University Hava Kurumu â€" if Erdogan is eleiro President, will make radical reforms in economic policies, as promises. What kind of radical changes? He claims that the economic environment will develop with production, industry and exports. Consequently, he says, interest will download. So we can say that the unemployment rate will decrease and, with an inflation rate that is higher, the Turkey can move closer to full employment.

The Prime Minister has set an ambitious goal: to make Turkey one of the ten largest economies in the world, in 2023. But the institutions like the Central Bank, which played a decisive role in the success of Turkey, want to mark independence from Erdogan.

Uğur Gürses-there is a great need for stable investments, such as those from China, but we are zero. As long as there is no political stability, investments are not coming. This is a negative factor. We must understand that a single party Government does not mean political stability. It is achieved through the separation of powers and the rule of law. But it will have repercussions on our economy in heavy numbers.

Erdogan tried to prove, several times, that the numbers are wrong and criticisms are excessive. But Turkey will face headwinds to continue on the path of political and economic progress ... and whoever wins.

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