Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
COVID-19 has quickly become a global pandemic. The virus does not travel, but people do. And the virus is spread through contact with contagious people. Therefore, many governments resort to social distancing measures and some apply regional lockdowns. However, a significant slow-down of economic and social activities all around the world causes significant hardship for
In my earlier piece, I had mentioned our ongoing research that investigates the economic costs of delaying a full lockdown . In this piece, I would like to share the preliminary results from that research that explores the effects of COVID-19 on the Turkish economy and proposes policy recommendations. In addition to myself, the research
Columnist Uğur Gürses has discussed in an article at Duvar English the state of the Turkish economy at the start of the Covid-19 outbreak. “Turkey was caught with the coronavirus outbreak at a time when it was weak structurally. Just like in the Covid-19 epidemic, the underlying disease story is the story of those problems
We all know that Covid-19 is a humanitarian problem, and containing the pandemic as soon as possible is an urgent obligation to save human lives.From an economic perspective, the total cost of containing the pandemic immediately is less than that of isolation policies that are put into delayed practice.The economics profession unanimously agrees that the
The number of COVID-19-related causalities has reached to 574 and number of infected people to 27,069 as of April 5, according to the Turkish Health Ministry.Turkish main opposition leader Kemal Kılıçdaroğlu of the center-left Republican People’s Party (CHP) has been criticizing President Tayyip Erdogan’s Justice and Development Party (AKP) government because of not taking necessary
Turkish opposition Good Party (GP) leader Meral Akşener has criticized the donation campaign launched by President Erdoğan over his donation campaign that gathered some 550 million liras, roughly $83 million dollars in three days against the Covid-19 outbreak, questioning whether the state could not possess such an amount of money to spend on its citizens.
The outbreak is, without a doubt, a medical issue. In its early stages, we can win the fight against it by taking preventive and protective measures, so it doesn’t spread. But both scientific data and previous examples in history show that COVID-19 is not only a medical issue. It shakes every aspect of life, be
The number of workers in Turkey who would be directly affected by staying at home amid Covid-19 measures could near 6 million, columnist Bahadır Özgür wrote at Duvar English. “If their families are included, then it is not an exaggeration to estimate that the epidemic, at the first glance, will hit more than 15 million
Coordination among monetary and fiscal policies is needed much more than ever at this time. While both of these policies aim to provide economic stability, their tools and areas of operation are different. It is essential for these policies to complement each other and support the economy without generating additional risks and vulnerabilities. Monetary Policy