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Professor of Economics. Dr. Korkut Boratav noted that the economy is expected to begin its downward trend in the last 3 months of this year. High external debt rotation and current account deficit to finance the IMF's fiscal deficit pointing may happen Boratav, "a decision that refused to surrender to financial capital may require a restructuring of the Republic of Turkey, "he said.
on General-Business Disc
Some questions from workers and some of Boratav's answers are as follows:
How did the economy come to this point? 19659002] According to a widely accepted definition, if a country's national income drops sharply in two quarters, it is assumed that the national economy has entered the decline phase. We can admit that a crisis broke out for a year. A few more years, depression / depression can be mentioned. The financial crisis is at stake if one of these stages unfolds with the widespread performance of companies, the inability of banks to fulfill their obligations and exit the foreign exchange market. The economy has not entered crisis at this point; but it is expected to begin the downsizing process in the last three months of 2018. In this case, the 2017 application at the beginning of the AKP's electoral economy measures, finally forcing their production limits of the economy of Turkey took place. Inflation and current account deficit increased; capital of international finance, began withdrawing funds from Turkey. Rising exchange rates forced the financial system. Excessive interest rate hikes and the difficulties of foreign currency debt companies led to the contraction of the economy.
What workers in other countries?
located near the Anglo-Saxon system in some countries of Latin America (Argentina, Brazil) and Turkey are in a same disturbances in today. On the whole, fiscal and monetary policies on the demand side are at least stagnant economies. The result is the braking of employment increases, the resurgence of unemployment. Real wage cuts are on the agenda. How to share the divisional burden in stagnation; contraction of the demand for wages and how to be reflected in the outcome depends on the organization of labor power.
Waiting how a table in Turkey
AKP's economic dependence outside Turkey in the international finanskapital search for the art will highly compensate. An IMF program could end for the repayment of a very high external debt and the financing of the current account deficit. IMF programs, limiting demand and bringing labor income to the high cost of the working class with corrosive properties.
have no way to escape the crisis?
a decision that refused to surrender to the capital funding of the Republic of Turkey demanded the restructuring of the external debt can. External debt of the private sector and banks depends on negotiations between creditors-borrowers; however, capital movements can be monitored according to exchange rate constraints; Can be mobilized to allocate payment payments of foreign exchange debt.
What can we do against the crisis?
Turkey over the last twelve months to $ 55 billion rising difficulties financing the deficit current account may require a reduction in imports. Shrinking supply will not create the opportunity to drive up profits. In an environment where the economy is shrinking and crisis conditions are emerging, burden sharing must not be shared by the workers. Organized struggle is necessary.
Mustafa Çakır / Cumhuriyet
Unionists and pro-workers parties, organizations will have important duties.
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