2023 will be the year of dollars

Turkey The economy enters the year 2023 with the electoral economy, the fight against inflation, the rise in the minimum wage and the expectations of the EYT. Former Minister of State and member of the faculty of Altınbaş University Prof. Dr. Işın Çelebi assessed the developments that await the world and Turkish economy in 2023. Mentioning that the decisions of the US Federal Reserve (Fed ) affected the whole world, Çelebi noted that the Fed started the process of tightening monetary policy and increased interest rates to 4.1 percent and inflation in the country fell from 9 to 7.1 percent. , the highest level in the last 40 years.

RECENT REFORM PERIOD

Stating that the US will continue its contractionary policy until the inflation rate drops to 2 percent, Çelebi predicted that as the US keeps the dollar lower, exports of US goods will become easier and Consequently, 2023 will be the year of the dollar. Çelebi explained that the euro continues to appreciate, which means that Europe will have difficulties in exports.

Prof. dr isin celebi

“We see that the fight against inflation has become the basis of economic policy in developed countries,” Çelebi said, adding that he hopes Turkey will implement an anti-inflation policy after the July 2023 elections. Stating that the year must be evaluated in 4 quarters of 3 months, Çelebi predicted that in the first 6 months until June 2023 there will be a period of electoral economy and from July 2023, a period of radical reforms that will produce long-term results. solutions to economic problems.

HERE ARE THE FORECASTS FOR 2023

a-YEAR In the first semester, the budgetary policies will work totally towards the electoral economy. The EYT law will be enacted and the salary of 10 million retirees will be increased.

2-TURKEYIn January, the minimum wage will reach 8,000 – 8,500 TL. In March, the minimum wage will be increased to 10,000 TL with an additional increase.

3- VOTE With a contractionary policy to reduce post-inflationary inflation, we will enter a period in which the independence of the Central Bank becomes important.

4- TURKEYStarting in July 2023, there will be a period of long-term solutions to economic problems and radical reforms.

5- RUSSIA As long as the war with Ukraine and Ukraine continues, the decisive role of the dollar in the world economy will continue, while the euro continues to appreciate, Europe will have difficulties in exports.

The minimum wage rises to 10 thousand TL in March

■ Prof. Dr. Işın Çelebi pointed out that the electoral economics process has started and said: “Budgetary policies will also fully work towards electoral economics. There will be a minimum wage increase in January. It will reach 8,000 – 8,500 TL. I think there will be a minimum wage increase again in March before the elections and wages will be increased to 10,000 TL,” he said.