Turkey’s external deficit threatens TL meltdown

Turkey’s external deficit threatens TL meltdown [embed]https://www.youtube.com/watch?v=c3fQZiI9Sj4&t=208s[/embed] • Thanks to the new economy team of Cevdet Yilmaz, Mehmet Simsek and Gaye Erkan Turkey began a stabilization program based on fundamental principles of economics. • Alas, the problems inherited from Erdogan’s reckless experiment with a voodoo economic model are so huge, progress towards stabilizing economic performance has lagged negative developments. • Three problems gnaw the marrow of Turkish economy: Inflation, budget and current account deficits (External Deficit). This video focuses on the last. • Turkey’s external deficit can’t be financed by foreign borrowing or financial capital inflows. Domestics are already switching to FX. • The economy tram has until the end of October to fix the problem by cooling economic activity. Otherwise, Turkey will have another currency crisis this winter. • Their job is complicated by a skeptical Erdogan looking over their shoulders. • What can be done? What are the consequences of not being able to finance the external deficit?   Subscribe to the channel http://wedia.link/RealTurkey Follow & read the latest Independent news from Turkey in English ► https://paturkey.com/   Did you like this video?  If so here  is another one   [embed]https://www.youtube.com/watch?v=qH9jRGaOMlY&t=159s[/embed]