A New World of Business Association (YENİAD) organized the "Economic Talks" program. This week's guest was the economist-writer Uğur Civelek.
Economist-writer Uğur Civelek said, In this country you will not find people who are smiling ur Political and social stability; you won't find any. The excess demand, inflation and interest rates will increase. They are in a relationship. Unlike everyone, I expect the exchange rate to rise more voluntarily in 2019. We're at risk of collapse of those who say I'll be stronger. The most concrete example is the construction sector. Most of these buildings were planted with debt. Sales were made because someone could borrow. Without such debt, we wouldn't have problems today. What will these buildings take? Banks. Since 2009, we have been providing both fresh credit and debt restructuring. Banks are not in a position to issue fresh loans. But it is not possible to escape debt configuration. Failure to give fresh credit prevents the wheels from turning.
Referring to the hike to the workers in 2019, Uğur Civelek said, cak Today we are facing another danger. Central Bank's expectation survey was announced as 24.45 percent. The most recent annual inflation is 25.24 percent. Can we raise this rate for the year 2019? If employees are given upward inflation, firms that cannot pay salaries will have to remove workers. Many businesses are not in a position to raise even 0 percent. Terrible unemployment will arise. This will also trigger the social explosion. Helplessness accelerates the abuse of reason. There will be explosions in ordinary crimes. If we raise around 5 percent, will the companies turn the wheel? No, he won't. 5 percent raise the citizen, the living conditions will not be able to pay debts for falling. They will have to cut their consumption, he said.