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Old 18th December 2016, 23:32   #1 (permalink)
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The Age of Erdoganomics Has Come

When the facts and figures don´t fit the narrative - change the data.

From Bloomberg:

Extract: "Turkish President Recep Tayyip Erdogan’s economic strategy looks like it has just been vindicated, with a little help from one of the largest statistical revisions in the country’s modern history.

Following the release of reworked gross domestic product data series by the country’s statistics agency, Turkstat, this week, the Middle East’s largest economy now appears to have expanded much faster than initially thought in the years after the financial crisis."

Full: https://www.bloomberg.com/news/artic...omics-has-come

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Old 19th December 2016, 01:41   #2 (permalink)
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Cool Re: The Age of Erdoganomics Has Come

Good news...take note all the anti government folk here might cheer you up a bit. though I doubt it ...
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Old 19th December 2016, 08:50   #3 (permalink)
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Re: The Age of Erdoganomics Has Come

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Good news...take note all the anti government folk here might cheer you up a bit. though I doubt it ...
The third form remove is alive and well on TLF

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Old 19th December 2016, 08:51   #4 (permalink)
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Re: The Age of Erdoganomics Has Come

Stuart,

Most of my friends who own businesses (non tourist enterprises) are struggling, all except one who is in construction and building luxury villas near Izmir, which are being purchased by people moving from Istanbul.

Do you really think the economy is doing well and that there's good news in the article? Messing with statistics and financial outlooks has not made the country richer.

Turks get richer overnight due to revision in GDP per capita data - ECONOMICS

Turkey sees almost 50 percent rise in number of closed enterprises in November - ECONOMICS

Turkish economy shrinks for first time since 2009 - ECONOMICS

Unemployment in Turkey rises to 11.3 percent in August - ECONOMICS

Some Istanbul hotels may close down in winter amid tourism plunge: Association - TOURISM


What the actual figures say (and not government-led forecasts) are that more businesses are closing, tourism is down and there are more people out of work.

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Old 19th December 2016, 13:00   #5 (permalink)
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Re: The Age of Erdoganomics Has Come

I remember when the Economic figures were compared with the direction the country was going.... Europe.

Now it seems its better to compare the outlook and figures in the direction Erdogan is now taking the country the Middle East, with the added advantage caluculating the figures in a new way. The two new comparisions then can paint a brighter future........ What will happen next time to make the figures look even better , compare them with the African nations?

Or Erdogan could take over completely the supposedly independent Central Bank instead of just micro-managing, and calculate the economic figures himself on his wooden calculus, I am sure his experience calculating the price of bus tickets is far superior to the economic graduates that he oversee's, and sacks when they criticize the direction ,even if they come from his own party. Or he could plan the Economy on his political ideology and go all the way with his zero interest rate ........ it worked well for IRAN duh ........


Not everyone agrees with the new figures, or the method of calculating .

Not everbody believes the statement below could possibly be in anway true

That means that since 2010, Turkey’s economy has grown faster than India’s, and only marginally slower than China’s.
.................................................. ........
Extracts from experts from article

“The revisions to past growth figures beg for an explanation," said Inan Demir, a London-based economist at Nomura International Plc. Take the 8.5 percent the economy is now reported to have grown in 2013, the year of the taper tantrum that saw Turkey among the hardest-hit emerging markets. Turkey’s 2013 rate of expansion -- now higher than China’s -- compares with a growth in industrial output of just 3 percent.

"Although this sounds like a step taken in the right direction," JPMorgan’s Yarkin Cebeci said in a note to clients, "the absence of detailed information (such as historical quarterly data, seasonal adjusted data and even detailed data regarding 3Q16) makes it very difficult to draw sound conclusions."


The agency TUIK, or Turkstat in English, has been without a director since the previous head Birol Aydemir left the post in February. His departure came shortly after he convened a press conference to protest new procedures that he said would "gravely affect" the collection of demographic statistics, Haberturk newspaper reported at the time.


The new methodology is designed to conform closer to European ESA-2010 standards, the statistics agency said.

“Eurostat has provided methodological support to Turkstat in implementation of ESA 2010," a spokesman for the Brussels-based institution said in response to questions on Monday. “We are not yet in a position to give further comments on the revisions, as the data have just been published."

Aktas had a more colorful response. “There’s no mechanism for approval between statistics agencies and Eurostat, it’s a technical cooperation," he said, when asked if the new figures had been externally reviewed. “

https://www.bloomberg.com/news/artic...vises-gdp-math

Last edited by bal canavar; 19th December 2016 at 13:07..
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Old 19th December 2016, 14:11   #6 (permalink)
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Re: The Age of Erdoganomics Has Come

Yes.... i think the country has gone from strength to strength under this government especially when compared to other European ones..Under the present government since it came into power about 14 years ago they have turned it round from a 3rd world state with inflation at around 90% ...look around you now, new roads, railways, airports, schools,housing hospitals and a health service that is far better than the uks, new metro systems in the larger cities and so on, the country has changed beyond recognition since those days before they came into power. The problem is partly because not many can remember what it was like before they got into power.
Smaller businesses all over the western world are having a hard time at the moment and not only TR, its a global issue.
If I thought the politics in this country were anywhere near as bad as you anti Erdogan gang make out on this forum I would be long gone.
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Old 19th December 2016, 14:50   #7 (permalink)
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Re: The Age of Erdoganomics Has Come

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Originally Posted by stuart View Post
Under the present government since it came into power about 14 years ago they have turned it round from a 3rd world state with inflation at around 90% ...look around you now, new roads, railways, airports, schools,housing hospitals and a health service that is far better than the uks, new metro systems in the larger cities and so on, the country has changed beyond recognition since those days before they came into power. The problem is partly because not many can remember what it was like before they got into power.
It has certainly changed for the better in Koycegiz since I came here.
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Old 19th December 2016, 16:19   #8 (permalink)
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Re: The Age of Erdoganomics Has Come

Well I suppose if adhere "as well as I am alright attitude" , and don't look to the increased terror aspect,

or the disastrous foreign policy. The change with the AKP trying to pass laws that revert back to tribal ways. the media censorship, and taking over of legitimate companies and selling them to supporters

All from a government that has set a new record in corruption taking it to new heights in Turkish history, with cronyism leading the way in the building of the projects you speak of.

Doesn't matter the land for these projects is stolen from village landowners or the workers building die daily due to no union rights to implement proper working practices, Or religious and minority rights are trampled on, causing the biggest people displacement of people from the S.E. Did I forget to mention the destruction of a secular constitution and the growth of Authoritarianism

Even Mussolini made train infrastructure improvements ,to make the trains run on time, and Hitler built the autobahn system ..... still wouldn't be good living under there rule.

Your right the country has changed beyond recognition its never been so polarized and divisive .

I give AKP the improvements to the health service but doctors themselves have said it is unsustainable and their contracts are being changed and are leaving to private practice.

Turkey would have modernized anyway, without the losses of the above. It had a "wanted" large new market to sell to, with a cheaper labor force to make the goods, and a young population

Turkey had started to get out of the crisis just before AKP came to rule they just followed the foundations set .... with the economic restructuring that CHP Kemal Dervish put in place that allowed for Eu membership to start and the floodgate of loans, grants and help to make these improvements to
Turkeys infrastructure and shiny new projects.

Just in time for the AKP to come to power and fill the shoe boxes and build up the influence of the cronies through contracts from all this new money.

So believe the newly revised figures, even if some experts aren't fooled.

So sit in comfort maybe even in the sun but don't splash your beer on your blinkers......

Sorry bad grammer spelling this was done on limited time constraint .

Last edited by bal canavar; 19th December 2016 at 18:36..
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Old 20th December 2016, 15:33   #9 (permalink)
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Re: The Age of Erdoganomics Has Come

Having started 'our relationship' with Turkey back in 1987 we have have seen many changes to and in Turkey. We first came for 10 years on holiday then having bought land and had a house build, moved here permanently in 1997. We have never regretted a day of it. So many changes cannot be denied...so many happy times,so many sad times but is that not what should happen when one moves to a country and accepts its good and bad and are living a life.We are still happy to be here. After all, after 19 years here, we have good Turkish friends, their future and our future are now interwined, so a more positive attitude for 'our' future surely is a must. I cannot envisage a life away from Turkey......x
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