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Back you claims with data, and don't be elitist and call Turkish institutions crap.
by mengibar10 9y ago
Back you claims with data, and don't be elitist and call Turkish institutions crap.
- candiodari 9y agoHere's one data point: https://www.tradingview.com/chart/?symbol=USDTRY https://www.tradingview.com/chart/?symbol=USDTRY https://www.tradingview.com/chart/?symbol=EURTRY https://www.tradingview.com/chart/?symbol=EURTRY Lira has about 1/3rd of the US dollar value it had in 2009, even if it's been going up slightly this year. In Euro it's lost about 65% of it's value in the same time frame. Average wages in Turkey went from 1300 Lira to close to 1600 Lira in the same period. So Turks have lost between 30% and 50% of their spending power in the last ~10 years.
- mengibar10 9y agoTurkey's GDP has been growing with a few setbacks steadily. This year alone the growth is 5%. Turkey has been under a lot of stress for a very long time. Few countries could sustain growth under such circumstances and many could not especially after 2008 global economic crisis. On top of that on going conflicts by its borders, huge refugee influx, terrorist attacks, Gulenist instigated social riots (Gezi Park), and the worst is the coup attempt. I believe it is unfair to point any data without a mention of above. And do not forget Turkish Lira's value before Erdogan's party came into scene. High inflation (> 50%) for decades, $1 worths over 1,000,000 Turkish Lira and always increasing. All these obscenities were fixed all the while huge infrastructure projects were completed.
- mengibar10 9y agoAnd one more thing. Turkey paid back all its debt to IMF in that short period.