Danger Bells Sound for Businesses

Economics that airs world-renowned British newspaper Financial Times, shared a writing attention on Turkey. According to the analysis of the country's economy by the newspaper, it has reached a dangerous dimension in terms of high exchange rate operators. In the news, the following statements were used: "After the Central Bank shocked the markets and kept the interest rates stable, the Turkish lira depreciated by 4.2%." The central bank 's monetary policy met for the first time after leading the economy to the son – in – law of President Recep Tayyip Erdogan, Berat Albayrak, who declared it "the only way out of the economy. enemy "in the best interest." Mr. Albayrak said the fight against soaring inflation and Turkey will not fight the market "guaranteeing worked to resolve concerns about the However, the Central Bank's final decision on interest rates has raised fears that Ankara is giving a signal to return to a more orthodox monetary policy after Mr Saygun's electoral victory. Erdogan last month. "

INCREASE IN PRESSURE

The danger bells flew after the fall of the lira;

Although the economy grew 7.4% last year, inflation reached 15% in June, as the weaker pound risked triggering inflation, weighing in on the economy. burden of private sector debt and discouraging essential foreign capital. The ratio of the current account deficit to gross domestic product also exceeded 6%. All news from the Financial Times recalls that data also arrived in Turkey, where 15 percent increase in bread was also recorded. Analysis of news, he continued: "This is one of the biggest concerns of economists.The depreciation of the Turkish lira is a pressure on companies that have a foreign currency debt of about 300 Turk Telekom announced that the loss in the second quarter of this year was about 1 billion pounds.One of the many high-profile groups that want banks to restructure their loan debts are Yıldız Holding. proportion of bad loans at a low level of 3 percent, although distressed loans is to be feared to create future pressure on the banking sector in Turkey. "

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