WHAT DOES THIS GROWTH MEAN? 

Answers to this question may differ from person to person. But a common answer would probably be like this: “This growth is nothing but replacing what’s lost, although not exactly.”

Take a look at this period that’s we’ve been experiencing for over a year now: People have lost their assets, establishments that can’t do business due to the pandemic have resisted, exerting huge amounts of effort not to crash; many have sold their cars and houses.

Millions of people lost their jobs due to establishments giving up and closing shop. Everyone’s mental health deteriorated.

Is there anyone whose prosperity and revenue increased and had a better life quality other than the exceptions who profited during this period?

We found what we lost and we are pleased but the poor are going through tough times and a lot of pain. In the middle of this, we can do nothing but watch what’s happening.

Gross Domestic Product (GDP) means production. You produce and create value-added. Of course, GDP is measured with other tools as well, but production is the foundation.

You will produce, your product will grow, this growth will reflect on the public as evenly as possible and prosperity will be secured for all . That’s the ideal.If you produce too much, there will be over-abundance, and prices will stagnate.

You would need a higher number of employees to produce more so the unemployment won’t be high. Now let’s take a look at the situation in Turkey: Are prices increasing? Yes, very much so! Is unemployment going down? We wish! So, what does this growth mean? Consumer and producer prices increased by 17% and 35% in April, annually and monthly, respectively. Various countries are behind us in terms of growth and inflation. But those countries do not compete against anyone in this.

The rate which shows extensive unemployment, dubbed the otiose employment rate by the Turkish Statistical Institute (TurkStat), rose to 28% this year, up from 22% in the first quarter of the year. So, we produced more and increased our national product but we did it with less employment. So, did our productivity strengthen?

Meanwhile, somehow only 37 out of 100 university graduates who are aged below 24 are unemployed.

But we are relieved because the country grew by 7% in the first quarter of the year!

Just wait and see the relief and celebrations in the September period. We will show them how a country can grow…