Turkey’s current account deficit
takes a sharp turn for the worse
Turkey, hit recently by a currency crisis, reported on Thursday that its current account deficit – a key weak spot – took a sharp turn for the worse in 2013. The deficit showed an increase of $16.507 billion compared to the outcome at the same time last year, soaring to $65 billion (47 billion euros), central bank figures showed.
The figure was driven upwards by an increase in the foreign trade deficit and soaring imports, the bank said in its annual report. The figure is the second worst in the history of Turkey since a record current account deficit of $75 billion in 2011.
The ruling Justice and Development Party (AKP) has tried to reduce the current account deficit since it came to power in 2002, but analysts have warned for months that the deficit, measuring the gap between all current payments into and out of the country, is a
pivotal weak point in the Turkish economy. The country has been hit by market turmoil after a high-profile graft scandal implicating key government allies became public in mid-December and the US Federal Reserve began tapering its stimulus package, causing investment to flow out of many emerging markets.
The Turkish lira lost over 10 percent in two months before the Turkish Central Bank raised interest rates in late January, containing further pressure on the currency. The government has insisted that its growth target of four percent for this year remains intact although the analysts have revised their forecasts downward. The tensions also comes as the country braces for an highly-charged election cycle this year starting with the local polls in March.
Source: hurriyetdailynews
Merhaba, blog yazınızı okudum ve beğendim. Lakin eklemek istediğim bazı noktalar var.
Ülkede hükümetin yıkılmasının, halkın sokaklarda savaşır hale gelmesini dolayısıyla ortaya çıkacak kaos ortamının bedelini yine halk ödeyecektir. Elbette küllerinden daha önce doğmuştur yine doğacaktır ama bu sürede elimize geçecek olan sadece kayıplar ve gözyaşlarıdır. AKP hükümeti gitmelidir ama AKP hükümetini gönderirken yerine koyacak bir hükümet de olmalıdır. Zamanında ihraç ettiği bir kişiyi bayraklarla geri alan CHP, AKP’ye ne yazık ki eşlenik değildir. Gerçek anlamda bir politika üretemeyen ve halka dokunamayan bir MHP’de ne yazık ki AKP’nin yerini dolduracak durumda değildir.
Aslında hepimiz biraz AKP’li değil miyiz ? adlı yazımda bu iletişimsizliğe ve sorunlara değinmeye çalıştım. Umarım yazım yazınıza katkıda bulunur.
http://orcun.baslak.com/aslinda-hepimiz-biraz-akpli-degil-miyiz/ adresinden yazıyı okuyabilirsiniz.
For our English readers Orcun Baslak seems to be saying he enjoyed reading this article but wanted to make the following points:( This is not a perfect but a well intentioned translation):-
“Thank you I enjoyed your article and would like to make the following points : If the collapse of the government (in Turkey) takes place the fighting and chaos that will ensure will only cause a lot of suffering to the ordinary people. It seems only suffering and tears will ensue. AKP party should really go but in its place there has to be a viable alternative, While expelling an MP from the CHP they then took him back with flags flying. In reality the MHP also cannot fill the vacuum and are not fit to take AKP place. I hope my views help contribute to your article.”