Saturday , July 31 2021

Escape capital flight from Turkey



The Turkish economy rarely collects its strength from a shot to get stronger ones. After announcing the country's unemployment rate of unemployment last year, one of the MPs revealed a terrible statistic debate about flying foreign investments.

According to the deputy head of the Party of Republican People, Akyut Erdogan, data on the balance of payments issued by the Central Bank, notes that the money that foreign investors bring to Turkey for the earnings of great interest and money Turkey, leaving the country at a fast pace, lira exchange rate against foreign currency.

"According to the statistics, there was a 20 billion dollar departure from local capital bonds, payments and deposits," the Zaman newspaper "quoted by Erdogan according to the statistics, nine months this year.

And the leader of the opposition, the amount of foreign capital, who came to the country in 2018 to a third of what last year.

New shocks to the Turkish economy

The Turkish economy had a new shot on Thursday, with the unemployment rate in the country rising significantly since last year, during other emergencies suffered by Ankara, most obviously the decline of local money.

Turkey's unemployment increased to 11.1 percent from July to August this year, its highest level since the beginning of last year, government data showed.

Unemployment in Turkey reached 10.6 per cent in the same period last year, but 40 per cent of Turkey's liquor this year has led to a major recession in the country's economy.

The new government data showed that off-farm unemployment was an average of 13.2 per cent between July and September this year.

A dark vision in the future

Moody said on November 9 that "world of pain" was waiting for the Turkish economy next year, especially after the Turkish liquor recorded its worst performance this year.

According to Bloomberg, the color decreases this year will result in severe economic problems as the slowdown growth in developed and developing markets.

Prospects such as the International Monetary Fund (IMF) come from Turkey's economic growth to 0.4 per cent in 2019, from 3.5 per cent this year.

"A weak pound and rising lending costs will reflect investment and use," the IMF said in a report.

On August 10, the lira finished its highest this year, with the process dropping 18 per cent during trading, and has lost almost 40 percent since the beginning of the year.

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