Turkish Economy: The Good, the Bad and the Ugly
tr-economy
[embed]https://www.youtube.com/watch?v=8sXg-nAZJ4Q&t=89s[/embed]
Turkish Economy: The Good, the Bad and the Ugly
- Turkish economy is staging a robust recovery according to June-July data, parallel to the rest of the world.
- It is important to separate trends from Covid-19 related “normalization”.
- The good news comes from the external account. Driven by exports current account deficits are narrowing sharply.
- Bad news is twofold: Unemployment and inflation are extremely sticky at very high levels.
- “The Ugly” is official stats agency Turkstat which constantly fiddles with data. Unemployment and inflation could be worse than the numbers suggest.
