Nedim Odabas: "Where do we stand in the economic crisis?"

Nedim Odabas: "Where do we stand in the economic crisis?"
Date: 11.10.2018 17:00

Milli Gazete writer Nedim Odabas writes about Turkey's economic crisis. Here is the full article.

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Treasury and Finance Minister Berat Albayrak announced the program to combat inflation. I don't know about you, but I don't understand anything from this program. There is nothing but Czech and European literature. This will be done, this will be done. Chain markets will reduce the price of 10 percent of the products. Businessmen, this program will support heartily. Crisis, has taken his head, the fire in the marketplace of the people's house fell into the kitchen. A pound of tomatoes exceeded 10 pounds. Nobody cares!
 
For almost 8 months, a devaluation of about 40 percent has occurred in the Turkish economy due to the fluctuation of the currency. Those who owe the borrower of the currency Businessmen, who had to rotate their jobs with the import substitution, in other words, import the intermediate goods, were almost forced to lock their doors.
 
Due to the volatility in the currency, the part reflected in inflation is still not settled. Minister Albayrak, especially the devaluation of Turkey's economy and how that effects of inflation and how we expect to make a statement at the point of these effects can be removed.
 
Turkish investor, industrialist against the crisis is in grief. In the 2001 crisis, the cash register, which was thrown in front of Prime Minister Bülent Ecevit, caused the psychological crisis threshold in the Turkish economy to be exceeded and thousands of tradesmen were destroyed in the overnight currency. In the following period, the so-called banks were regulated and unhealthy financial system was intervened. The swamp banks of that time put almost 50 billion dollars in the back of this nation. They claim to have done everything beautiful, but it seems that there is nothing changing. We are in a crisis period, but the banks are still reading what they know. While the economic crisis ravages the markets with all its weight, the banks are trying to squeeze the throat of the tradesmen and the industrialists even in the credits they give. Professor Dr. Osman Altuğ, he had been managing the world's capital accumulation for 15 years. The banking system is an existing system to support the production economy. There is a proliferation of production, the relief of the tradesmen, and the industrialists to continue their investments at the point of clogging. But the banking system in Turkey, does not do anything other than to rush the economy. Obviously, we didn't expect the government to show resistance to this current economic crisis. As a matter of fact, our expectations were realized. I am constantly on the market because I am the editor of our newspaper. President Recep Tayyip Erdogan said, These are manipulations for the economic crisis in the real markets. I personally see how business people, tradesmen and employers are in a crisis, and listen to them from their mouths.
 
Currently, inflation is around 25 percent. The situation of our citizens, who have to sow home every day, but reach 40 percent of the informal inflation rate due to stockists and foreign exchange holders, is on the upside.
 
Thousands of trades in the country every day, lock the door. Thousands shut their shop without a making first sale of the day. The crisis has reached so intense dimensions that businessmen are now forced to contract and shrink. This crisis may not have just come to a point in this country, To the AKP Headquarters and to the palace in Beştepe. The daily expenditure of the Palace in Beştepe, 1 million 800 thousand Turkish Liras.

YEREL HABERLER

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