Cyprus-Forum.com

[Lordo]

of course you are a charlui so no sense of humour.

[kurupetos]

reh charlui ma galibam en ixeris dibode esuni.

as the terks are using american tanks of course its gas. despite the fact that they produce them in terkey gavole.

Storage tanks - idiot. For the fuel being supplied illegally by ISIS.

[Kikapu]

Looks like Turkey is going backwards in more ways than one!

Turkey to slide back to world's 19th biggest economy by year's end

Turkey will drop from 17th to 19th place on the list of the world’s biggest economies by the end of 2014, according to the World Economic League Table by the Center for Economics and Business Research (CEBR).

Turkey’s GDP will decrease to $767 billion by the end of the year, from around $827 billion in 2013 due to a loss in the Turkish Lira’s value, according to the report.

The CEBR expects the country will rise to 16th place on the list by 2024.

According to the report, which was prepared using the IMF’s 2013 data, growth forecasts, current inflation rates and exchange rates, Turkey will be able to regain its status in 17th by 2019, with an expected GDP of $1.52 trillion.

The CEBR notes Turkey, which aims to be one of the 10 biggest economies by 2023, will be able to reach 14th place by 2030.

http://www.hurriyetdailynews.com/turkey ... sCatID=344

[erolz66]

Looks like Turkey is going backwards in more ways than one!

gdp.JPG

[DT.]

Looks like Turkey is going backwards in more ways than one!

gdp.JPG

Turkey has an inflation rate at 9.5% as opposed to Greece's negative inflation. Basic economics would help you reach a conclusion that Turkey has negative growth now.

[erolz66]

Turkey has an inflation rate at 9.5% as opposed to Greece's negative inflation. Basic economics would help you reach a conclusion that Turkey has negative growth now.

You are right I am no economist. If you want to try and tell me that of those two graphs of GDP, the metric in the report that kikapu had chosen to reach the conclusion that Turkey is going backwards, Greece's is the more healthy and Turkey's the more indicative of an economy 'going backwards' then please do go ahead and tell me this. Who knows I may even believe you.

That the same very same report Kikapu cites as evidence that 'Turkey is going backwards' also predicts that by 2019 Turkey will be the 17th largest economy in the world again and by 2030 will be the 14th largest is also clearly irrelevant to any serious discussion as to if Turkey's economy is really going backwards or not over the medium and long term I guess.

[DT.]

Turkey has an inflation rate at 9.5% as opposed to Greece's negative inflation. Basic economics would help you reach a conclusion that Turkey has negative growth now.

You are right I am no economist. If you want to try and tell me that of those two graphs of GDP, the metric in the report that kikapu had chosen to reach the conclusion that Turkey is going backwards, Greece's is the more healthy and Turkey's the more indicative of an economy 'going backwards' then please do go ahead and tell me this. Who knows I may even believe you.

That the same very same report Kikapu cites as evidence that 'Turkey is going backwards' also predicts that by 2019 Turkey will be the 17th largest economy in the world again and by 2030 will be the 14th largest is also clearly irrelevant to any serious discussion as to if Turkey's economy is really going backwards or not over the medium and long term I guess.

I didn't see what kinkapu posted. I was answering your post because you can't use GDP growth that has not been adjusted for inflation as an indication for growth. Turkey can grow at a rate of 99% but if its goods and services cost 100% more year on year then that's not growth.

[erolz66]

I didn't see what kinkapu posted.

A shame because my post was purely in reply to his comment, which is why I quoted it in my post.

I was answering your post because you can't use GDP growth that has not been adjusted for inflation as an indication for growth.

So can you use a reduction in total GDP year on year or relative to other countries , un adjusted for inflation as a basis to claim a given country is going backwards ? If not best explain it to kikapu, not me.

Turkey can grow at a rate of 99% but if its goods and services cost 100% more year on year then that's not growth.

If total GDP one year is higher than a previous year then that is growth in GDP. I understand that growth in GDP alone does not mean that individuals in that country are 'better off' if inflation is growing faster than that growth, but it is still GDP growth none the less. Things like debt to GDP ratio for example are measured against total GDP regardless of inflation are they not ?

[DT.]

I didn't see what kinkapu posted.

A shame because my post was purely in reply to his comment, which is why I quoted it in my post.

I was answering your post because you can't use GDP growth that has not been adjusted for inflation as an indication for growth.

So can you use a reduction in total GDP year on year or relative to other countries , un adjusted for inflation as a basis to claim a given country is going backwards ? If not best explain it to kikapu, not me.

Turkey can grow at a rate of 99% but if its goods and services cost 100% more year on year then that's not growth.

If total GDP one year is higher than a previous year then that is growth in GDP. I understand that growth in GDP alone does not mean that individuals in that country are 'better off' if inflation is growing faster than that growth, but it is still GDP growth none the less. Things like debt to GDP ratio for example are measured against total GDP regardless of inflation are they not ?

Erolz you can have zero growth in an economy but just because the prices of goods and services are rising due to inflation then it would register GDP growth.

The economy hasn't grown, things just amount to more money making it look like its growing.

[Kikapu]

Turkey has an inflation rate at 9.5% as opposed to Greece's negative inflation. Basic economics would help you reach a conclusion that Turkey has negative growth now.

You are right I am no economist. If you want to try and tell me that of those two graphs of GDP, the metric in the report that kikapu had chosen to reach the conclusion that Turkey is going backwards, Greece's is the more healthy and Turkey's the more indicative of an economy 'going backwards' then please do go ahead and tell me this. Who knows I may even believe you.

That the same very same report Kikapu cites as evidence that 'Turkey is going backwards' also predicts that by 2019 Turkey will be the 17th largest economy in the world again and by 2030 will be the 14th largest is also clearly irrelevant to any serious discussion as to if Turkey's economy is really going backwards or not over the medium and long term I guess.

Erolz,

I know you are the eternal optimist anything with the Turkish Lira, the Turkish Economy, the Turkish "Democracy" and Erdogan not being a dictator in the making.

A little reality check for you my friend. You are wrong on all fronts with your above optimism sorry to say.

Turkish economy is mostly nothing but "smoking mirrors" where it can be manipulated to look very rosy for a short while riding the high economic waves, as was the case 2-3 years ago with the so called 10+% growth until it could not ride that wave any longer and fell back to reality as there is no such thing as "free lunch", because sooner or later, the bills needs to be paid. All developing countries/emerging markets are expected to have greater growth rates than already developed markets (not saying Greece is a fully developed country), so lets not get too excited about you making comparison to Turkey's growth rates to developed countries growth rates. What you should look at the most is not the GDP rate, but what is the GDP rate per capita. The way things are looking at the moment, the Turkish GDP per capita is going backwards. No wonder last month the Turkish government were adding extra $2,000 Dollars or so to the GDP per capita using some "feel good" calculations, probably from the Ottoman times, just to make the Turks feel a little richer without actually having extra $2,000 Dollars in their pockets. More "smoking mirrors" from Erdogan's economy. The same was done again few years back. Perception over reality works for some people, as the case is with the Turks.

Only couple of years ago Turkey was boasting being worlds 10th largest economy by 2023, the great centennial year for Turkey, despite being worlds 60th-70th in 2013 (depending which chart one uses) when it comes to GDP per capita based on purchasing power parities (PPP). Again, using (PPP) gives better figures to the Turkish GDP per capita than conventional GDP per capita, which is significantly lower that GDP based on (PPP). Since the world's economic GDP's are all based in US Dollars, Turkey can never get to their expected target, because the Turkish Lira is always losing ground against the US Dollar as well as other major world currencies. TL has devalued almost 50% against the US Dollar over the last 3 years or so and there is no signs that it will stop losing it's value against the US Dollar, which is why it has gone from 17th position to the 19th as world's largest economy. It will continue going backwards, despite whatever you believe the author of the article I posted predicting Turkey making a comeback in the future. The author makes a prediction Turkey becoming 14th position by year 2030. How can the author make such silly predictions when only couple of years ago Erdogan was making predictions of being the 10th largest economy by 2023? The truth is, one cannot make such predictions when it comes to Turkey and it's less than stable Turkish Lira, economy and politics. The past trends are more likely outcome for the future than just making optimistic future predictions by the author just to please the Turkish Government and not get sent to jail for being accused of being a "terrorist" against the state.

Happy New Year to you.