Turkish economy in the slit; From economic uncertainty to inflation – Mehr News Agency | Iranian and world news

Mehr News Agency, International Group: 4 years ago, Türkiye as a country Developing And it had a prosperous economy. The country intended to Based on The ambitious horizons of the “Outlook Document” on the 100th anniversary of the establishment of the Republic of Türkiye are one of the world’s five powerful economies. But Turkey’s economic decline has created a tougher situation for the people of the country since year by year, and by the way, in the year 5, as the year of the realization of the vision, the economic situation was worsened and the goals failed.

Rajab Tayeb The current Turkish President Erdogan promised at the same time that if the Turkish people gave him once again, he would save the country with several economic reforms. But this promise was not fulfilled, and now millions of Turkish citizens, with inflationary stagnation, inequality and increased poverty and unemployment. EncounteredAnd A significant portion of their purchasing power has lost. All of this is while foreign policy is not with the help of the economy, and economic analysts say until the end This year AD, the price of the dollar in Türkiye is higher than the 5 pounds, which means the more difficult conditions for the production, industries and export sectors.

Conflict On statistics

One of the criticisms Important Erdogan’s opponents are that members of his economic team, the Minister of Finance and Finance, the Vice President, the head of the central bank and the head of the Turkish National Statistics Center, do not provide a clear report on the country’s economic conditions and so -called busy reports. Statistics Are. , As, as, Based on The official statistics of the government and the central bank earlier in the early year of Türkiye’s annual inflation rate reached 4.9 percent, the highest since November. Basic inflation also reached its highest level in the last 5 years, at 4.9 percent, which Caused by Factors such as increased energy costs, supply chain disorders, and unusual monetary policies. But Research and research departments close to the market, the private sector and universities have announced in several reports that Türkiye for the first time has three -digit inflation And Its average swelling has reached 2 %.

Increasing production costs has led to a decline in exports of goods from Türkiye to other countries. As a result, the foreign trade deficit in the country’s economy reached a worrying boundary, and against the $ 2 billion imports, the amount of imports has barely reached $ 5 billion. This is when strict rules for importing goods and a significant portion of import control was due to lack of foreign exchange resources and foreign borrowing.

Multiplication of Türkiye’s economic challenges

In years 1 and 2, the Turkish economy with significant challenges such as high inflation, devaluation of national currency and political instability Encountered It has been. The devaluation of money and capital escape from Türkiye to Europe has been one of the most common problems for the past five years. With the arrest of Istanbul mayor Akram Imamoglu, this problem became more complex and influenced the market in two ways: first, the market faced a sudden surprise, and the psychological effects of the government made the Turkish lira weaker against the US dollar. As a result, the Turkish Central Bank was forced to sacrifice $ 5 billion of foreign exchange reserves within three weeks to keep the dollar at the border of 4 lira.

This action was made by Türkiye’s political and economic analysts as negative effects Politics On the economy Describe Became the leader of the People’s Republican Party and Sponsor Imamoglu described these events as betraying the Turkish democracy and economy. Second, some foreign companies are concerned about the increase in the political and economic instability of the Istanbul Stock Exchange. Izmir, BursaAnkara and Morsin Left and Tendency Many major European, American and Chinese companies have subsided to invest in Türkiye.

Another major challenge in the Turkish economy was the unusual monetary policy and the constant intervention of the president in determining the interest rate on bank deposits. This trend changed the central bank’s head three times in a short period of five years. Previous policies that preferred low inflation, weakened the trust of investors and exacerbated economic problems. Although the central bank has been a contractionary position since then and has increased interest rates to 5 %, But The consequences of previous policies continue to affect the economy.

Along with numerous political and foreign factors, this should also Hint The Turkish economy has structural weaknesses. For example, Türkiye’s dependence on energy and imported intermediary goods leads to a significant business deficit And This problem makes currency instability and inflationary pressures more complicated. In other words the structural problems of the Turkish economy, it should also be Hint According to Professor Daron Ajam Oglu, the Nobel Professional Winning of Turkey to other countries, the export of goods from Turkey to other countries is of high value added because its industries are still unable to use the technology of the day and as a result the Turkish economy, interest is interest. Verry It has a low.

Very obstacles in the path of economic reform

Since the beginning of the year, Erdogan’s government’s economic team has taken steps in the direction of economic reform and efforts to restore stability to the market. The most important step in this direction is to valve financial discipline and deal with Spray And in government agencies and departments, the contractionary policy and austerity have been monetary. But In parallel to these positive actions, increase Income Government tax has put heavy pressure on citizens and producers and has made their voices. The government’s medium-term plan (1-8) has also put on the agenda to reduce dependence on imports, strengthen domestic production and execute financial discipline. But There are still many problems in sectors related to the approach of the governance system to the economy.

In Türkiye’s economic program, openly to critical and important issues such as improving transparency, strengthening the rule of law and ensuring the independence of institutions and institutions. Honor The private sector mentioned But In practice, the government has taken action that contradicts these goals. For example, the path of activity is paved for many contractors and companies close to the AKP But Powerful financial groups close to the opposition have faced many obstacles, and some of the most important Turkish private sector figures have been easily detained on charges of disturbing public opinion and insulting the president.

Erdogan’s government for Transition Of the current crisis seeking to attract foreign capital But Efforts of the past two weeks ImportantShimshak For Negotiation With American and European financial groups In order Their encouragement to invest in Türkiye has not yet been the result. At the same time, the amount of investment in the Turkish economy is limited to Qatar, Saudi Arabia, Kuwait and the United Arab Emirates, and the current investment figures in Turkey do not meet the financial needs of the government. All of this is more difficult for a significant portion of Turkey’s population of 5 million, as rising food prices, housing and energy have put a lot of pressure on households, and many people have difficulty meeting their basic needs. Encountered Are.