In times of Corona-crisis, many Turks are afraid of the economic consequences of the epidemic. A study by the private research firm Strateji Co and ERA Research from mid-March found that 18 to 35 – Year-old more before the unemployment 68 percent), fear (as before the Virus (63 percent). to stabilize
the economy, announced by President Erdoğan on 18. March, “the economic stability of the sign” to the value of 100 billion Lira (approximately 14 billion euros). The measures allow companies to defer the payment of taxes and social contributions for April to June by six months. Companies with payment difficulties may also delay your loan repayments for three months.
Small and medium-sized enterprises, as well as those with liquidity problems to obtain loans. The package of measures also includes an increase in the minimum pensions, loans for social purposes, and 2 billion Lira (approximately 280 million euros) in financial aid for needy families. About the guest author
Dr. Ronald Meinardus, the office of the Friedrich-Naumann directs the Foundation for freedom in Istanbul. Prior to that, he was head of the regional office for South Asia of the Foundation. Twitter: @Meinardus
tax cuts for airline tickets and hotel accommodations
critics say, the packet sending part sending confusing signals. While the population is encouraged to stay at home and not travel, announced President Erdoğan tax cuts for airline tickets and hotel accommodations. Also lower interest rates on real estate loans could encourage citizens to visit the apartments or houses than to stay at home, commented the journalist Barçın Yinanç in the Hürriyet.
Also, do not criticize Economists that the measures went far enough. Compared with the aid programmes of other countries, including Germany, with an aid package of 750 billion Euro was the Turkish package of measures “insignificant”, says the Journalist Cengiz candarian in “Al-Monitor”. It shows that Turkey could not afford an expensive expenditure, and economically already at the Limit standing.
The Economist Mustafa Sönmez criticizes the scope and the destination direction of the packet: So, delays in the tax or loan repayments companies would benefit little, if this in consequence of the absence of revenue Deposit already on Business The package to prepare to serve mainly companies, banks and pensioners. For the employees who lose their Job, stay a little left.
Turkey is on the growth objective
among the numerous service companies have closed, factories sent their workers unpaid home. The Economist Selva Demiralp of Koç University, Istanbul, calls, therefore, for a Supplement of the package of measures: Necessary to direct transfer payments to all those who have lost their Job are. “If the lost income and the wages are not replaced by the government, it is impossible to keep the wheels of the economy Running,” warns the expert. Minister of Finance, Berat Albayrak, sees it differently; in spite of the Corona-crisis, he is sticking to his growth target of 5 percent for the year 2020. In order to ensure liquidity, has reduced the Central Bank’s key rate to a single digit Level (9.75 per cent). What’s that supposed to stimulate lending, however, could fan the flames of Inflation, which is already at 12 percent, and the decline of the currency, the Turkish Lira accelerated.
try While companies and households to cope with the crisis, was recently held the first bidding round of the “Istanbul canal”. With the project, President Erdoğan wants to create a 45-kilometre-long channel to the East of Istanbul. In the population of the project because of its environmental risks and high costs of 75 billion Lira (approximately 10.5 billion Euro) controversial. Therefore, the Public took up the implementation of the first bidding round, in the five companies to be awarded the contract for the reconstruction of two historic bridges competed, with a lack of understanding. The Union of Turkish engineers and architects in Istanbul (TMMOB) criticized: “While the Corona-Virus-pandemic dictates the Agenda, and the life in Turkey to come to a standstill, it is unacceptable that government officials prioritize a project with unverdientem income.”
Meanwhile, the government has dismissed the responsible Minister of transport Cahit Turhan – according to rumors as a result of the events of “Istanbul channel”. But observers doubt that President Erdoğan had known with his passion for Mega-construction projects, nothing from the Timing of the first offer round. The “Hurriyet”columnist Serkan Demirtaş suggested that the Minister of transport was dismissed because he showed too little enthusiasm for the Istanbul channel, and with the project preparations to slow to be rode.
The Text first appeared in “Turkey Bulletin” of the Friedrich-Naumann-Foundation for freedom. Tips of the stock market millionaire: So newbies invest now in Corona-Crash FOCUS Online tips the stock market millionaire: So newbies invest now in Corona Crash
