The Turkish-type presidential system is 5 years old: Here is the balance of the economy…
President Recep Tayyip Erdoğan, in his speech on June 19, 5 days before the June 24, 2018 elections, said: “This kind of change and so on, none of these things will determine our future, we will determine our future. On the 24th, give this brother the authority, and then you will see how to deal with this and that with this interest.”
Erdogan was given the authority and on July 9, 2018, the presidential system of government was introduced. Tomorrow is the anniversary of the transition to the presidential system…
Looking at the macroeconomic data, it is seen that the Turkish economy is getting worse day by day in the presidential system, which is said to blow up the country’s economy.
Due to the depreciation of the Turkish lira and inflation, house and car prices have quadrupled since 2018. The reality link between street inflation and TUIK inflation was broken, wages were maintained. The money earned by citizens has eroded day by day and purchasing power has decreased.
The bazaar market is like a chimney… Especially after the second round of the presidential elections on May 28, there is a shower of increases. The bill of the applied electoral economy is passed to the citizens. While the Turkish lira depreciates 30 percent in a month, the prices of many items, from needle to thread, rise due to tax increases. Here is the cost of the presidential system for the country’s economy:
BIG TL DECREASE: Before the transition to the presidential system, in June 2018, the dollar was at 4.64 TL, the euro at 5.41, the gold quarter at 312, today the dollar at 26.03, the euro at 28.57 and the gold room at 2,608 lire.
NATIONAL INCOME STATEMENT: Gross Domestic Product was $797 billion in 2018, decreased to $717 billion in 2020. 2022 year-end estimate is $775 billion… In 2018, national income per capita was $9,792, decreased to $9,481 at the end of 2021. It is expected to decrease to $9,444 in 2021.
UNEMPLOYMENT INCREASED: In 2018, the broadly defined unemployment rate was 18.3 percent. According to the latest data published by TUIK, this rate is 23.8 percent at the end of April 2023.
DEBT MADE: The central government debt stock was TL 1 trillion 67 billion in 2018, and it became TL 4 trillion 588 billion according to the latest data.
RESERVE MOLD: The Central Bank safe also gave an alarm during said period. Although the net reserves of the Central Bank, excluding swaps, were 21.6 billion dollars in 2018, they exceeded minus 60 billion dollars as of June 2023.
EXPLOITED DEBT WITH BANKS: Although the stock of loans granted by banks to companies and citizens was 2 trillion 395 billion lira in 2018, it reached 9 trillion 564 billion lira as of June 2023. As of June 2023, the total loans to the consumption was approximately 1 trillion 307 billion TL. The number of people who have been sued for personal loans or personal credit card debt has exceeded 4 million.
NEED TO INCREASE: While 3,494,932 households received social assistance in 2018, when the Presidential System of Government was adopted, this number increased to 4,419,286 households in 2022. In the field of conditional aid for education and health, 3 million 279 thousand 253 people were served. According to information from the 2022 annual report of the Presidency of Strategy and Budget, 1 million 343 thousand 109 households benefited from electricity assistance in 2019. . The number of households that received electrical assistance in 2022 increased to 3,690,582.
THE FOREIGN TRUST HAS LEFT: In the presidential system, it was said that ‘money inflows will explode in Turkey’, but net direct capital inflows, excluding real estate, fell to negative. The participation of foreigners in the stock market fell to historic lows.