Zeki Ceyhan: "Like a truck with a broken brake"

Zeki Ceyhan: "Like a truck with a broken brake"
Date: 27.6.2023 16:00

Milli Gazete columnist Zeki Ceyhan writes on Türkiye's economy. Here is the full article.

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The names brought to the head of the economy are taking some steps to get the economy back on track!
 
In this context, unlike the "low interest" practice that has been taken so far, interest rates are increased.
 
However, news from the world of economy reveals that the situation is not encouraging at all.
 
No matter what measures the authorities take, the drift in the world of economy cannot be prevented.
 
So to speak, the country's economy looks like a truck with a broken brake going downhill!
 
Just as it is not possible to stop such a truck without crashing or laying on its side, it is just as impossible to get the derailed economy back on track!
 
Even though the names assigned to get the economy back on track say that they are "decisive", they cannot have a say in exchange rates.
 
The loss of the Turkish Lira against the dollar, on the other hand, causes the exchange rate gain in currency protected deposit accounts to multiply.
 
In other words, while one side of the economy is trying to be corrected, the other side is starting to lose.
 
Just as the ordinary measures taken to stop the truck going downhill with a broken brake do not make any sense, the measures taken to put the economy on track do not help either.
 
We know that it is very difficult for those who roll up their sleeves to level the country's economy.
 
We also see that it is impossible to heal the wounds caused by the wrong economic policies that have been stubbornly maintained for years.
 
Our wish and hope is that this hard work will be accomplished without any accident and that the economy that has gone off track will be put back on track.
 
But how will this hard work be accomplished?
 
It is very difficult to say anything about this or to give a period of time.
 
We feel that there will be days that are difficult to overcome.
 
More bitter prescriptions can be put before us, not only with interest increases.
 
Of course, these problems caused by wastage and unnecessary investments that have been going on for years will not be easily overcome.
 
That's why every result to be achieved with "least loss" should be considered as a profit! Undoubtedly, the sooner the storm in the world of economy ends, the less the damage will be.

YEREL HABERLER

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