Cyprus-Forum.com

[repulsewarrior]

https://cyprus-mail.com/2021/12/28/turk ... r-economy/

...elections, both in the so called "TRNC" and in Turkey, are nearing.

We can expect more protests, here, and there.

[Kikapu]

Articles you do not see from Erdogan’s ass licking so called journalists and fake newspapers.

Father Christmas and Turkey’s economy
Robert Ellis

Dec 29 2021 01:37 Gmt+3
Last Updated On: Dec 29 2021 02:06 Gmt+3


According to Uğur Gürses, a former central bank official, last week’s lira rally was engineered by the central bank’s backdoor sale of $7 billion in foreign exchange reserves. This was confirmed by the Financial Times in a report on aggressive lira intervention.

Now Turkey’s finance minister Nureddin Nebati would have us believe that the rally in the lira and the fall in the price of gold, dollars and euros was intervention-free because people raced to exchange the currency. Well, if you believe that, then you'll believe in Father Christmas and the Tooth Fairy, but our granddaughter is still not convinced.

The government has since turned its attention to five economists, including former central bank governor, Durmuş Yılmaz. The Banking Regulation and Supervision Agency (BDDK) has filed a criminal complaint against them for spreading alarm and despondency about the volatile lira on social media.

In the current situation there is no room for a sense of humour either. When British economist Timothy Ash tweeted: “Turkey - just realised, Keynes, Friedman, Hayek, Solow, Samuelson, Adam Smith, Kornai, Dornbush, the Fed, ECB, BOE, me, all Western economists, we are all idiots. Wasted all our time, learning economics. Erdoğan just rewrote all the theories”, the comments were taken at face value by a pro-government newspaper, which said they amounted to praise for Erdoğan and his ground-breaking policies.

Nevertheless, the president is in an upbeat mood and has announced that Turkey’s ultimate goal of becoming one of top 10 economies in the world is closer to reality and no longer a dream, despite GDP in dollars shrinking from a peak in 2013. Whether this view is shared by those in bread lines queuing for subsidised government bread is an open question.

https://ahvalnews.com/turkish-lira/fath ... ys-economy

[Kikapu]

Speaking of ass licking so called journalists, whatever has happened to Mr. Bloody (Yusuf Kanli - Daily News)?

He has been absent for couple of months.

Perhaps he has gotten tired of being an ass licker and no longer writes articles to fake news organizations.

[Maximus]

Turkey jacked up gas and electricity prices by 50-100%

https://cyprus-mail.com/2022/01/01/turk ... -new-year/

[Kikapu]

Turkey jacked up gas and electricity prices by 50-100%

https://cyprus-mail.com/2022/01/01/turk ... -new-year/

Well, the 50% increase in pay and pension was not really a gift by Erdogan. It was to pay for the increases, which means that the people are no better off before the increase than after the increase in their pays and pensions. Erdogan gives it to the people with one hand and takes it away with two hands.

Yes, your modern day Robin Hood, or is it more like, “Robbing Hood”?

[Kikapu]

Turks should keep all their savings in lira – Erdoğan

Jan 01 2022 12:58 Gmt+3
Last Updated On: Jan 01 2022 01:04 Gmt+3

Turkish President Recep Tayyip Erdoğan told Turks that they should keep all their savings in lira on Friday, Reuters reported.

“I want all my citizens to keep their savings in our own money, to run all their business with their own money, and I recommend this,” the Turkish president said during a speech in Istanbul.

“Let’s not forget this: as long as we don’t take our own money as a benchmark, we are doomed to sink,” he added. “The Turkish Lira, our money, that is what we will go forward with. Not with this foreign currency, that foreign currency.”

https://ahvalnews.com/turkish-lira/turk ... ra-erdogan

[Lordo]

The word is our gas and electricity prices will also double in April as the government agreement with the suppliers regarding the cap comes to an end. Wil the energy companies want to continue with the cap, I suspect not unless they are given some other sweeteners. Tax rebate can't be it as they buggers never pay tax.

[Londonrake]

BBC News - Turkey's inflation hits 36% amid financial turmoil
https://www.bbc.co.uk/news/business-59857420

.

[Lordo]

BBC News - Turkey's inflation hits 36% amid financial turmoil
https://www.bbc.co.uk/news/business-59857420

.

Considering it is the drop in the currency causing inflation, should you be surprised at the increase?
We had it in the 70s. Oil increase from 10 dollars to 70 dollars a barrel caused havoc with inflation and Labour Party got the blame.

Then of course luck will have it, North Sea oil started flowing in as the Tories won the election. Even that was not enough, the bitch had to start a war to make shure she won the next election.

[Maximus]

BBC News - Turkey's inflation hits 36% amid financial turmoil
https://www.bbc.co.uk/news/business-59857420

.

The price of basic foods is surging to levels unprecedented since a massive financial crisis in 2001, which required Turkey to seek emergency help from the International Monetary Fund (IMF).

"Turkey is facing an Argentina/Venezuela-style inflation/devaluation spiral," Tim Ash, senior emerging markets strategist at BlueBay Asset Management, said in e-mailed comments.

That puts Turkey in the top ten of high inflation countries that include basket cases such as Argentina and Venezuela.

In terms of nations with a population of more than 50 million, Turkey is the leader for inflation globally.

https://ahvalnews.com/turkish-lira/erdo ... own-crisis