BY ALAATTIN AKTAS The soft belly of the Turkish economy is that it can’t earn FX and always posts a deficit. So, our problem is the balance of payments. The current account deficit (CAD) was USD 2bn higher in May 2023 than in May 2022. The 5-month CAD is USD 11.5bn above, and the annual...
Author: Alaattin Aktas (Alaattin Aktas)
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The fine print of the PPK summary
BY ALAATTIN AKTAS Treasury and Finance Minister Mehmet Simsek said Turkey has no other choice than to return to a rational ground when he assumed the mantle. The Central Bank shows the same approach now. The policy rate was increased. The Monetary Policy Committee (PPK) members, except for Governor Hafize Gaye Erkan, put their signatures...
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KKM may create TRY 150bn currency burden on the public in June
BY ALAATTIN AKTAS The payment to be made from the budget for the FX-protected TRY deposit accounts (KKM) will show an incredible climb in June with the rise in exchange rates. The exchange rate difference payment, which will have to be made only from the budget, will reach TRY 75bn while the burden on the...
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Simsek and Erkan to set right this outlook!
BY ALAATTIN AKTAS It is enough to look at the balance of payments to see what is expected from Treasury and Finance Minister Mehmet Simsek and Central Bank Governor Hafize Gaye Erkan. The Central Bank’s balance of payments data for April revealed the inevitableness and necessity of finding fresh foreign exchange (FX). CAD reached nearly...
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The election is over; what will come up next?
BY ALAATTIN AKTAS President Recep Tayyip Erdogan is the winner of the May 28 election. Erdogan, who also has the majority of the seats in the parliament, will lead the execution for another five years. The question is simple: “What kind of economic course does Turkey await? No change in the monetary policy and even...
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The CAD is big and its financing is bad!
BY ALAATTIN AKTAS March was a relieving month in terms of the current account balance. The current account deficit (CAD), which hit USD 5.6bn in March 2022, decreased to USD 4.5bn in March this year. However, the single-month realization doesn’t matter that much. The deficit in the first quarter and the last year are well...
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Güvenilir Casino Siteleri – Editör Onaylı 10 Bahis Sitesi
Casino ve bahis siteleri, internet üzerinde son yıllarda büyük bir patlama yaşamıştır. Tek bir tıklama ile dünyanın dört bir yanındaki oyunlara ve bahislere erişim sağlamak, birçok kişi için büyük bir cazibe kaynağıdır. Ancak bu siteleri kullanırken dikkate alınması gereken bazı önemli noktalar vardır. Okuyucularımızın en güncel ve en iyi bahis sitelerine erişebilmeleri için bu makaleyi...
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Inflation soared while the policy rate was lowered
BY ALAATTIN AKTAS The Central Bank’s (CB) policy rate and inflation had a parallel course from the beginning of 2011 to September 2021. However, there were periods when inflation showed itself. For instance, the dismissal process of unmanageable CB governors. The policy rate was cut when obeyer governors were appointed. The different long-term targets seemed...
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Energy and gold don’t explain the CAD
BY ALAATTIN AKTAS First, it’s noteworthy to remark on a revision. The current account deficit (CAD) was USD 9.84bn in January in the first statement, and the figure was the highest monthly deficit in the history of the republic. Now, we see that the CAD is even higher. The revision, which was made while the...
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Annualized foreign trade deficit tripled in 1.5 years
BY ALAATTIN AKTAS The situation in foreign trade data for March seems to be not bad. Exports increased by 4.4%, while the increase in imports remained at 4.2% In March, compared to the same month of the previous year, according to preliminary data announced by the Ministry of Trade. However, imports still increased faster than...