Kibkom North Cyprus Forum

The IMF predict that the Turkish economy will increase by 6% in 2021 and lower inflation.
Comments please.

I think its time for people do what is best within their own particular financial situation. That's my comment.

I don't think the IMF has a particularly great record in making predictions and anyone making confident predictions at the moment with even more imponderables than normal in play are being very brave.
Hopefully they have this one right but I'd be cautious personally.

https://www.bloomberg.com/graphics/2019-imf-forecasts/

Do you have a link to the article as I'd be interested in the wording?

I often find that all of these predictions are like the predictions on the morning of the FA Cup Final.
A paper will have a couple of it's pundits make a couple of different predictions. One will say United will win the other will say City will win and the next day the paper will repeat the correct pundits prediction in banner headlines saying the Daily Guess called it right again.

As long as you are careful in the wording and cover all possible outcomes with the wording you'll find you can qualify most predictions even when they are spectacularly wrong.

Do you have a link to the article as I'd be interested in the wording?


[/quote] it was a programme on TRTWORLD tv.

I bought at 10.30 and 10 and put on 32 days at 15 © annual interest . It's precarious as erdogan at anytime could start linterfering with the central bank. Im not tempted now at 9.70. there has been a few big banks predicting 7 tl to the dollar and as low as 6.5$ in the short term. As we all know it's volatile and unpredictable. You have to be prepared that you could quickly lose 10% or more if things don't turn out as some are predicting

Oh yes don't forget biden sanctions halkbank etc etc.

Reyntj do you mean 15% at Daily interest. Normally on a term account, like in your case 32 days, the interest is daily, not annually.

I think people get the gist. And if you check any bank they quote the annual rate which is clearly proportionally paid for the period . In fact I have no idea what you are trying to correct it's not warranted for.

If it was daily interest it would be about 0.04% daily.......

Reyntj wrote: ↑

Sun 07 Feb 2021 6:40 pm

I think people get the gist. And if you check any bank they quote the annual rate which is clearly proportionally paid for the period . In fact I have no idea what you are trying to correct it's not warranted for.

If it was daily interest it would be about 0.04% daily.......

I worked in banking for many years,I do understand how interest is calculated. No need to get offended I was simply asking for clarification,

Regarding GDP for the last few years turkey has been going backwards http://m.statisticstimes.com/economy/pr ... anking.php

Today erdogan is saying turkeys goal is to become the 10 th largest economy but that's been the goal for the last 10 years and was meant to be achieved in 2023 they would need to more than double the gdp and that's if all other countries stayed the same . Given at best the last ten years turkeys GDP has stayed flat it's not very likely. Also the statistics from turkstat like a lot of goverment controlled info are questionable.

I also note an article today on wages and that the minimum monthly wage in turkey is only 8 euro higher than a decade ago and compared to European countries is the second lowest above Bulgaria.

The only way the Lira has strengthened is by interest rates.

What economy has Turkey got?

Oh! Tourism as the Turkish Airlines on the TV keeps reminding us.

Hair Cut wrote: ↑

Mon 08 Feb 2021 2:20 pm

The only way the Lira has strengthened is by interest rates.

What economy has Turkey got?

Oh! Tourism as the Turkish Airlines on the TV keeps reminding us.

I think you'll find the latest strengthening of the TL was due to some encouraging manufacturing figures.
Re Turkey's economy I think you'll find tourism is around 13% of it's GDP enough to cause an impact but by no means the be all and end all of it's economy. Different story in TRNC of course

One more pertinent factor is that turkey needs to buy $ to replace the reserves albayrak spent supporting the lira so any further lira strength may well be tempered

EnjoyingTheSun wrote: ↑

Mon 08 Feb 2021 2:38 pm

Hair Cut wrote: ↑

Mon 08 Feb 2021 2:20 pm

The only way the Lira has strengthened is by interest rates.

What economy has Turkey got?

Oh! Tourism as the Turkish Airlines on the TV keeps reminding us.

I think you'll find the latest strengthening of the TL was due to some encouraging manufacturing figures.
Re Turkey's economy I think you'll find tourism is around 13% of it's GDP enough to cause an impact but by no means the be all and end all of it's economy. Different story in TRNC of course

Yes, I remember them building the Transit van, that didn't last for long. Ford took it off them when most of the RAC and AA vans fell apart

Doesn't Turkey build high speed trains?

Turkish rail system is great and cheap. Even on a one hour local journey from Antalya we had seats that reclined and an adaptable foot rest and pull down table. Wasn't first class either.

Better off buying BitCoin !!

Bert wrote: ↑

Tue 09 Feb 2021 8:45 am

Better off buying BitCoin !!

I got £90 worth about a month ago when it had a wobble. Worth £122 this morning when I checked.

Some big money to be made in the cryptocurrencies if you can hold your nerve.

Sorry to digress but in Izmir the train system and ferry boats where fantastic and very cheap. You can fly direct to Izmir and get a train at the airport direct to the centre for peanuts. Highly recommended and will go again for sure.

Bert is right,as usual.l have been buying Bitcoin for almost 2 years now,very profitable,thanks Bert sweetie.

So what happened to the investment in the Russian pipeline? Most of the increase in the Lira value is because the new pipeline running south through Turkey to European countries has a number of foreign investors, thus the Lira is gaining some of its value perhaps against sterling?