Maximus wrote:Pyrpolizer wrote:Turkey’s economy expanded by 21.7% in the second quarter of 2021 – the second highest among G20 countries.https://www.aa.com.tr/en/economy/world- ... 5-/2384684Any comments on this? How is it possible?
having such a huge growth and at the same time be on the verge of bankruptcy???
Its all from pent up consumer demand. this was just for the second quarter of the year, after covid restrictions were lifted.
last year the economy shrank by about 10%. This year it is expected to expand by 8%, so net growth is -2% since last year.
But inflation is running at 20%. so it doesnt matter if the economy is growing if inflation is stinging consumers.
The Turkish market is getting bigger but raw materials, goods and services are becoming disproportionately more expensive.
Pretty much like a company that increases its revenues at the expense of profitability because costs go up in the process.
Take the dummy out your mauf and listen up you hear?
First you have to understand the meaning of the word bankrupt. Here hoes:
Definition of bankrupt
a debtor such as an individual or an organization whose property is subject to voluntary or involuntary administration under the bankruptcy laws for the benefit of the debtor's creditors * Now Troika springs to mind)
or
a person who becomes insolvent
Now then, are you paying attention?
The National Debt of Turkey
Turkey’s gross national debt includes all of the debt instruments issued by the government of Turkey. In 2020, the total national debt of Turkey amounted to a debt-to-GDP ratio of 41.7%. When assets of the Central Bank of Turkey and other publicly held funds are deducted, the net national debt of Turkey is 35.2% of GDP.
How the fuck is Turkey bankrupt then?
Greece recorded a Government Debt to GDP of 205.60 percent of the country's Gross Domestic Product in 2020
Cyprus recorded a Government Debt to GDP of 118.20 percent of the country's Gross Domestic Product in 2020
UK General government gross debt was £2,206.5 billion, or 104.5% of Gross domestic product in 2020,
Italy has the 6th highest debt-to-GDP ratio at 161.8%
UK General government gross debt was £2,206.5 billion, or 104.5% of Gross domestic product in 2020
Government Debt to GDP in France is expected to be 98.60 percent by the end of this quarter,
Are the lights on upstairs?