Economist Zelyut: Large amount of foreign capital has left Turkey

Down below is a short excerpt from an article by one of the prominent economists/opinion leaders of Turkey regarding the most recent picture of economy of the country.

Economist ZELYUT shares following observations and opinions:

“We have said that the main reason for the shortage of dollars is that we have import semi-finished products as we produce. But one of the reasons is the aggressive domestic and foreign policies of the AK Party. In order to keep his voters together, to prevent Decadence,

The use of harsh rhetoric inside and outside to keep his voters together and prevent disintegration, reduces confidence in the country and the economy. With decreasing confidence, investors are selling Turkish shares and bonds, taking their money and fleeing. As a result of this escape, the amount of dollars is decreasing, it is becoming scarce, and the exchange rate is going up.

The capital that has escaped is gigantic in size. Before Erdogan became president, the amount of shares held by foreigners in 2017 was $ 51 billion, and the amount of bonds was $ 30 billion. Now these figures are in the form of 19 billion dollars of shares, 2.3 billion dollars of bonds. The difference is about minus 60 billion dollars. Can you imagine exactly $ 60 billion has escaped due to the language of anger…”

SOURCE: yenicaggazetesi.com.tr/dolar-kitligi-basliyor-542414h.htm