Abdulkadir Özkan: "Interest rates and inflation fall, unemployment rises"

Abdulkadir Özkan: "Interest rates and inflation fall, unemployment rises"
Date: 14.1.2020 17:30

Milli Gazete columnist Abdulkadir Özkan writes on Turkey's economy. Here is the full article.

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Officials say that inflation and interest rates will fall to single digits in the coming months at every opportunity. According to the evaluations, there is an improvement in this direction. I would like to say that we would like our country to get rid of the quagmire of interest as soon as possible and that our people will get rid of the obligation to banks. Because, according to the published data, the profits of banks are increasing in our country, which means that narrow and fixed incomes are getting poorer. As a result, there is no improvement in the welfare of employees and retirees. In particular, increases in wages melt away before the workers and retirees get into the face of price increases. As a result, while the number of people in the middle income level is gradually decreasing, the number of the rich and the poor on the one hand is increasing. In this respect, it may not hurt to draw some optimistic figures by taking some figures in the economy, but economic indicators are not only interest and inflation.
At this point, it is necessary to focus on the participation of new ones every day, especially in the army of unemployed, and to find a solution to this. If there is a continuous increase in the number of unemployed people in a country, it would not be wrong to say that investments to increase production cannot be made. There is no investment in a country. However, in order to increase the welfare level of the society and decrease the unemployment, production-oriented investments are needed. Let me point out that every investment contributes to a change in society, but the main thing is to save our people from unemployment and increase their welfare. If the minimum wage is set under the figures of hunger and poverty in a country, there is something wrong. In the meantime, despite the hunger and poverty line figures announced each month, a significant part of our retirees and employees are obliged to find a solution to the fact that they can earn income below these figures.
With the fall in inflation and interest rates, it is necessary to emphasize the increase in the number of unemployed people I noted in the title. Because I think that 28 percent of unemployed people are university graduates, especially education, especially the higher education system needs to be reviewed. Because the increasing number of unemployed among university graduates suggests that the needs of the country are not taken into consideration in university education. We pride ourselves on opening one and more universities in every province and even higher schools in the districts at every opportunity. However, if we cannot provide our young people with a job opportunity after graduating from university and high school, then the governors of this country should consider whether this situation is good or bad for the future of the society.
According to Turkstat, the number of unemployed people increased by 608 thousand last month and reached 4.5 million. The rate of unemployed was 13.4 percent. I have touched upon the situation of university graduates. At this point, it is useful to touch on another issue. While the number of unemployed people in university and high school graduates is increasing, there is a need for well-trained intermediate staff in many fields in our country. So the dominance of the logic that we have made rather than the needs of the country in decisions and practices taken in almost every field continues. This increases the number of resentful and hopeless people in the society rather than responding to the needs of our people.


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