Homepage / Currency / Erdogan wins more power, and it might not help Turkey's economy
Menyelami Dunia Slot Thailand: Keseruan dan Peluang Kemenangan Besar Menyelami Dunia Slot Thailand: Pengalaman Bermain yang Tak Terlupakan Jogar͏ Collision Slot Aviator No Casino Online͏ Pin-up How to find cougar women – guidelines and tricks what exactly is a black cougar woman? Бесплатные Онлайн-слоты Играйте В Оригинальные Слоты Gaminator Онлайн Um Líder No Mundo Perform Entretenimento De Jogos De Apostas Бесплатные Онлайн-слоты Играйте В Оригинальные Слоты Gaminator Онлайн Leon Online Casino Έως 1 500 Ανά Κατάθεση! Get to learn other gay males inside area Онлайн-казино остальной Лучшие%2C Рейтинг%2C Топ-10 В 2024 году Enjoy an incredible dating experience with beautiful bisexual women A couple of things to learn about Online Dating – MeetKing Website Basaribet’ýn En Popüler ve Kar Getiren Slotlarý Slotcatalog ᐈ Ne Oynanır? Nerede Oynanır? “”1win Uzbekistan ⬅️ Rasmiy Sayti Bukmekerlik Kompaniyasining Al Afrah Plastic-type Product Trading” Casino Oyun Masası: Rulet & Blackjack How To Locate Swingers and Fulfill These – 27 Items You Should Be Aware Of  – The Woman Standard Aplikacja Total Casino Jak Pobrać? Total Casino Blog 1win Within Contrast In Order To Manage To Helsinki Reds » Quotations, Odds, Friendly Evaluations & Stat Blog Nouveaux Casinos Sur Internet Leading 15 Casinos Sobre France 2024 Australian No Deposit Bonus Casino Codes: Clean List 2024 Новые Игровые Автоматы И Слоты Играть Бесплатно И без Регистрации В Новинки 2024 Игровые Автоматы в Деньги С Выводом Играть Онлайн а Лучшие Слоты Игровые Автоматы в Деньги С Выводом Играть Онлайн а Лучшие Слоты 2024’te Yatırımsız Bonus Veren Siteler Listesi Join our mexican dating services & take pleasure in the journey of love +4770 Slot Gratis Senza Scaricare Ottobre 24 2024’ün En Cazip Bahis Siteleri ve Kazanç Sağlama Yolları “Gambling & Online On Line Casino Site Login Slot Oyunları İçin En İyi Bonus Seçenekleri dec (5838) Bahis Stratejileriyle Gelirinizi Katlamanın İpuçları “1win Официальный Сайт Букмекера 1вин Идеальный выбор Для Ставок а Спорт И Онлайн-игр 1win Sportsbook Log In To 1win Betting And Obtain Your Sports Bonus Start dating a milf and revel in a fun, exciting relationship Игровые Автоматы Онлайн Бесплатно и Без Регистрации%2C ото Крупнейших Провайдеров Cassinopix é confiável? Veja a nossa análise completa 333Bet é confiável? Paga mesmo? En İyi Bahis Siteleri Türkiye’de Güvenilir ve Kazandıran Siteler 2021 Yılında En İyi Bahis Siteleri – Güvenilir ve Kazançlı Türkçe Bahis Siteleri Best Real Money On-line Casinos In Australia 2024 Play In Au$ Best Online Internet Casinos Canada 2024: Top Ten Casino Sites With Regard To Ca Players Pin Up Deposit 1win How To Down Payment And Withdraw Money From Your Account Meet your ideal millionaire sugar daddy – here is how “l’armée Ivoirienne Attaquée Par La France”: Comment Une Fausse Information A Émergé En Côte D’ivoire” Cazip Deneme Bonusları ile Oyun Keyfini Artır Exploring the planet for love: what you ought to find out about top international dating sites SecretMilfClub Review in 2021 – Read All of our Scam Report! – RomanceScams.org Glory Casino Login In Addition To Registration Instructions Intended For Bangladesh Users The features of dating an older guy for younger women O Melhor Cassino E Apostas Esportivas Do Brasil ᐈ Pin-up Yüksek Kazançlı Bahis Stratejileri: Bonus Kullanımının Önemi Hoşgeldin Bonusları ile Bahis Oyunlarında Kazanç Sağlama “azərbaycanda Onlayn Kazino Pin Up Pin Up Slot Machine Game Maşınları” AsianDating Evaluation (2023) – The Very Best Or Overrated Asian Website “sprawdź Najszybciej Wypłacalne Kasyna Online W Polsce 2024 “”1win Uzbekistan ⬅️ Rasmiy Sayti Bukmekerlik Kompaniyasining Al Afrah Plastic-type Product Trading” 1win Официальный Сайт Букмекерской Конторы 2023 Онлайн Ставки в Спорт%2C Вход и Бк 1вин одним Find your perfect match with your comprehensive dating reviews Find love and friendship with an asian american dating app “Wagering & Online Online Casino Site Login Enjoy the many benefits of the meet asian singles app – test it today Los 10 Mejores Internet Casinos Online Para Argentinos 2024 Nouveaux Casinos Sur Internet 2024 Comparatif Des Top 7 Casinos En France Hướng dẫn chơi slot game tại casino HappyLuke HappyLuke Casino Trực Tuyến Get prepared to have the full time of one’s life dec (5827) The Power of Online Tarot Free Readings Unlocking the Mysteries of Free Psychic Tarot Card Reading The Ultimate Overview to Online Tarot Readings Vedic Numerology Calculator: Exploring the Ancient Scientific Research of Numbers The Ultimate Overview to Online Tarot Card Readings Numerology Number Calculator: Opening the Tricks of Your Life Course The Art of Tarot Cards Online The Fascinating World of Tarot Cards Online Free The Remarkable Globe of Tarot Card Reading Cards Numerology Calculator by Day of Birth: Taking Advantage Of the Power of Numbers Discover Numerology Name by Day of Birth Free Psychic Analysis Online: Your Key to Insight and Assistance Are Tarot Cards Evil? Oyun Kitabı Bahis Bölümü Önerisi – Etkili Bahis Stratejileri ve Taktikleri Oyun Kitabı Bahis Bölümü – Zorlukları ve İpuçları Play 22,546+ Casino Slot Demo Games Водка БЕТ Казино официальный сайт и зеркало Vodka Casino Find your perfect match with quick hookup near me Top 7 Best Lesbian Cougar Internet Dating Sites in 2022 ◉ Sugar Daddy Ireland: Seeking Sugar in IE | SugarDaddySeek Online Kasino & Sportovní Sázení Oficiální Web Melbet Bonusları: Türk Oyuncular İçin En İyileri Roulette In Italiano Situs Slot Judi Bola Casino Online PutriJP Bagaimana Cara Memainkan Slot? 9 Kiat Terbaik Provider Permainan Kasino & Slot Online Terbaik Pragmatic Play Pragmatic Play Slot Mainkan Demo Gratis best name for boy 4718 best name for boy 2378 Purchase Lyrica Online Safely and Discreetly Top Online Slots: A Comprehensive Overview to the very best Port Gamings Casinos with Mastercard: A Comprehensive Guide Top Online Casino Sites that Approve Bitcoin: A Comprehensive Overview

Currency, United States Finance

Erdogan wins more power, and it might not help Turkey's economy

On already shaky footing, Turkey’s economy and assets are likely to be affected as all eyes turn to what the powerful and growth-hungry winner of Sunday’s elections — President Recep Tayyip Erdogan — will do next.

The country is faced with a multitude of issues: The decline of the Turkish lira, its sky-high inflation rate of 12 percent — above its target of 5 percent — and the perception that Erdogan is curtailing the central bank’s independence.

To make matters worse, Erdogan, who has been in power since 2003 and is now more powerful after Sunday’s vote, has always wanted to pursue growth at all cost, analysts noted. That means he has been sitting on interest rates, opting for a monetary policy that prioritizes growth over controlling its inflation.

All that will lead to a further impact on Turkish assets, said Neel Gopalakrishnan, credit strategist at DBS Bank.

“While there could be a brief election-results-driven relief rally, we would expect Turkish assets to remain under pressure unless policy measures address the country’s high inflation and external dependence. The central bank has not raised rates enough like some other countries given the government’s focus on GDP growth rather than inflation or currency stability,” he explained.

Ashish Goyal, head of emerging markets at NN Investment Partners, said that Turkey is likely to face many challenges ahead, as it’s running a large fiscal deficit but “no savings to fund it.”

Karine Hirn, partner at East Capital, said two immediate areas of focus for the Turkish government would be solving Turkey’s macroeconomic challenges, as well as the central bank’s actions and rumors that it’s not independent.

Erdogan has played an unusually heavy-handed role in deciding his country’s monetary policy, and many observers say he keeps the Central Bank of the Republic of Turkey’s hands tied. The president, who has called himself an “enemy of interest rates,” has effectively prevented any recent central bank tightening.

It also does not help that the central bank “has been behind the curve for many years,” Hirn told CNBC on Monday.

“One of the reasons the Turkish economy is not doing well now, and the market’s not doing well either, is the fact that we’ve had extremely loose both monetary and fiscal policy during the last two years, which was very much actually connected to the fact that Erdogan wanted to make sure the population would do better,” she said, referring to various cash bonuses and schemes.

“This is now, of course, over — he doesn’t need to do that much. So hopefully they will now be trying to rebalance these economic problems.”

But Gopalakrishnan didn’t express optimism that things would improve after Erdogan’s victorious.

“Erdogan has always kind of had a single-minded focus on growth. So it would come as a surprise if he deviated significantly. So yes, it would be a challenge to resolve,” said Gopalakrishnan.

“My personal view is that it could take a crisis … to bring about a significant change in policy.”

— CNBC’s Natasha Turak contributed to this report.

Source: cnbc
Erdogan wins more power, and it might not help Turkey's economy

Comments are closed.