|
Why is economic stability being targeted?

It looks like the same situation awaits us in 2015 where frequent mention will be made of how things are not well in the economy and how every step taken will be presented as a crisis. This has been the case ever since a process was started after May 2013 and continued with the coup attempts of Dec. 17 and Dec. 25, 2013.


This is being done to the extent that some people continue to attempt to create a perception of economic turmoil, like those who create a link between the Central Bank’s decisions in the very first days of this year to increase the reserve ratio and the vote expected to be held in the Supreme Council. A similar situation was witnessed last year when the Central Bank decided to raise the interest rate in January 2014 following the serious damage to the Turkish economy’s growth potential as a result of the attempts of Dec. 17 and Dec. 25.


Economic and political scenarios that target economic and political stability in the country are already being dreamed up on the basis of an as yet unissued ruling.


The truth is that the Turkish economy is not independent of political developments; however, it is also no longer an area that can be manipulated by those who want to shape politics. Making the economy foot the bill for all activity that arises as a result of the country’s social and political dynamics means ignoring the road traversed by Turkey in the last 12 years and the position it now finds itself in.


EXPORTS CONTINUE TO GROW

While attempts are made to embed this illusionary perception of economic chaos in the country, real indicators reflect results that are in total contradiction to those perceptions. Export figures head these indicators. Despite all the attempts, the Turkish economy continued to grow in 2014 and the biggest factor fuelling this growth was exports.


Based on data released by the Turkish Exporters’ Assembly (TİM), exports reached the level of US$ 156.7 billion in 2014. Turkey continues to positively differentiate itself by recording 4 percent export growth, exceeding the 2.5 percent growth in global commerce.


Furthermore, this development which translated to record exports in the history of the Republic was achieved in a year when Turkey’s exports to its two important commercial partners, Iraq and Russia, were down due to geopolitical and economic risks.


Export volume increased with the relative recovery seen in the euro zone, and exports to the Middle East and North America were also up. We need to pay careful attention in 2015 to market diversity, which will be the determining factor of the exports road map.


It makes it imperative to strengthen economic and political ties with Africa due to the 4 percent drop in exports to this region. It is hugely significant in this respect that President Tayyip Erdoğan’s first visit of 2015 will be to African countries.


CONDITIONS FAVORABLE FOR EXPORTS TARGET

In addition to the support lent to economic ties through expanding international relations as a result of a political vision with a wide perspective, global and national conditions that will help increase exports are also displaying a positive trend. The drop in the price of oil by almost half will reduce the current account deficit and also increase competitiveness in manufacturing.


The structural transformation reform package, too, is not just vitally significant for export growth as a result of its focus on increasing added value in manufacturing and technology-intensive manufacturing, but also for the new economy.


In this way, the export target of US$ 174 billion for 2015 set out in the Medium Term Program, which for the first time includes articles about structural transformation, will easily be met, and a growth rate higher than the one aimed for will also be achieved.


To sum up, despite some quarters continuing with their attempts to create economic and political chaos and expecting a crisis in 2015 as well, the Turkish economy continues to display positive economic indicators, particularly with regard to exports.


It seems like various scenarios will be used in 2015 as well to attempt actions against the Turkish economy, which showed no signs of fragility despite many internal and external shocks in 2013 and 2014. Those who want to shape politics will play all their trump cards this year in the run-up to the general elections. The actors of the New Economy will have to be more determined and braver. 


twitter.com/erdalkaragol 
#economic stability
#Central Bank
#Turey
#political dynamics
9 yıl önce
Why is economic stability being targeted?
The 'tragedy' of US policy vis-a-vis Israel
Achieving energy independence...
Once again, the US didn't surprise anyone!
As conservatism continues to gain strength...
Most sought-after, challenging to recruit, and expected to rise occupations in Türkiye