In order to overcome the current economic situation, Turkey’s key is not to save more, but “more productive consumption.”
The global economy is increasingly turning from an open, free market, to one weighted in the protectionist policies of individual states.
Turkey and Africa set to improve trade ties following joint business forum.
If Turkey’s New Economic Program is implemented properly, it will not be a surprise for Turkey to regain macroeconomic stability and to grow again at a level close to its long-run potential.
Turkey’s Treasury and Finance Minister Berat Albayrak unveiled Turkey’s new economic program.
While Trump’s protectionist policies may please his voters, they are damaging the global economy.
“Using the U.S. dollar as a weapon against other countries in an effort to promote the political interests of the U.S. itself has become the final blow to the U.S. dollar. The U.S. dollar was meant to be the stabilizer of the world trade and economy, not the destabilizer.”
Western media outlets have systematically cherry-picked data in order to argue that the depreciation of the Turkish Lira is Turkey’s fault.
It is difficult to explain the current devaluation of the Turkish Lira against the U.S. Dollar on economic terms, as the current situation is a mere example of the global hegemon – the U.S. – exerting its political power on a so-called ally.
As the public debt level is currently very low, the Turkish government has an ample room to increase its spending level to boost the real economy.