‘Ice skating’
society After a very difficult year for almost everyone, we are entering a new year with both economic and political uncertainty. Economist Atilla Yeşilada, who we asked about his expectations for 2023, said: “As the situation is known in the polls, the opposition is ahead, so the government will not do everything possible. However, the balance of the economy is so distorted that anything done to please the electorate exacerbates problems in another area.
INVOICE AFTER THE ELECTION
Evaluating these days, when we can say that there are a few months left until the elections, with the words “Ice skating before the elections”, Yeşilada said: “Although we are trying to win the elections at any time, the balance can be lost with a exaggerated politics, and we may experience a new exchange rate shock. “Inflation can cause social unrest,” he said. Pointing to local elections in 2024, Yeşilada said that in the case of the continuation of the current government, all these events will remain in zero compared to what you can live after the elections. Yeşilada continues: “We will pay the bill for what has been done now, after the elections”, and continued: “When it comes to paying that bill, our stomach more soft will the current account deficit be, when the money runs out, how will the $40 billion current account deficit be financed?There are local elections in 2024…This government is this economy. If you win the elections as a whole, why would you change your economic policies until the local elections? Our people support you. Let’s keep the economy in overdrive until 2024 significantly increases the risk of a balance of payments crisis. Turkey can no longer find funding from traditional sources. Qatar and Saudi will not always feed us,” he said.
The misguided policies of the AKP weakened its production power
Stating that after the minimum wage, retirees and public servants will have to increase inflation, Atilla Yeşilada said: “The increases will generate inflation again, and then it will come back as imports and current account deficit. After 3 months, there will be an increase again. This is the spiral of wage inflation that Western central banks fear most. Production in Turkey does not have the capacity to meet this. It has no power to produce more. As a result of AKP’s misguided policies, the production side has been weakened.”