Prominent economist: Appreciation of TL will no longer bring Erdogan more votes
Economist Atilla Yeşilada made an assessment of the economic and political agenda on a YOUTUBE channel he joined. Yeşilada said, “From now onward, even the appreciation of the dollar TL will not bring Erdogan votes, either.”
Economist Atilla Yeşilada, evaluated the reflection of Turkey and world politics on the Turkish economy, in a YOUTUBE program he participated.
Yesilada commented on the consequences of relations with Russia and Saudi Arabia, saying “Russian-Arab money will not save Erdogan”.
The economist used the following statements:
“More money can come to us from Russia. Russia has an expectation from us to ‘help get around the sanctions’, but Saudi Arabia has no expectations regarding Turkey. Let’s say; 50 billion dollars came from Russia. Will this win the election for President Tayyip Erdogan? No, it won’t. It won’t bring a single vote. Turkey’s economy is generating 80 percent inflation; let’s say the money has come and you doubled the expenditures (spend money to provide to comfort people). What will happen to inflation? It will Increase to 160 percent. Since spending in Turkey has jumped into the current account deficit (deteriorating it), most of the money given by Putin will go to finance the current account deficit. In addition, most of the future (said) money to come will go to those close to power (the government).
From this time onward the appreciation of the dollar/TL will not win Erdogan, votes. The problem of the people in Turkey is unemployment, poverty. You can’t solve them even if TL gains value. The appreciation of the TL will also have an effect that will fuel inflation by spending from now on.” After that, YESILADA said the government had chosen the loan volumes as a tool for monitoring inflation, and added that “the complaints of the business world had to do with this”
