Kanga

Member
Watch The Lira Now
What would that look like K ?
Possibly a restriction on size of transfer; maybe an exit penalty.
This week the government has imposed a ban on Turkish companies with a high level of forex from applying for loans, so they must use their own forex first.
Transfers abroad of over TL10m now need permission.
This has been coming for a while, and on that basis we have sold our lovely Datca home and transferred the money to UK before the end of May.
 

enoch

Member
Watch The Lira Now
Just looking at the borsa their not happy either about 1%down. I don't think anyone was expecting such a quiet response to the exchange rate.
 
Last edited:

Mushroom

Member
Watch The Lira Now
Possibly a restriction on size of transfer; maybe an exit penalty.
This week the government has imposed a ban on Turkish companies with a high level of forex from applying for loans, so they must use their own forex first.
Transfers abroad of over TL10m now need permission.
This has been coming for a while, and on that basis we have sold our lovely Datca home and transferred the money to UK before the end of May.
I don't blame you.
I started having bad vibes about 5 years ago and that's when we decided to sell and get out. The dosh stayed a bit longer when the interest rates and exchange rates were good. When they started to turn, everything went to Sterling and came home.
Just after that, there was an increase in fees for exchanging, transferring etc.
No problem if you are in permanent residence, not good if you aren't.
 

Tenpin

The Yorkshireman
Watch The Lira Now

Turkey's official inflation rate hits 24-year high of 78.6 percent​



Extract:
Turkey's annual inflation jumped to a two-decade high of 78.62% in June, according to official data released on July 4. This makes it the highest reading since September 1998, when annual inflation was 80.4% and Turkey was battling to end a decade of chronically high inflation.

Month-on-month, consumer prices rose 4.95%, the Turkish Statistical Institute (TÜİK) said.

According to unofficial data from the ENAG Inflation Research Group, an independent institution set up in 2020 to track the country’s inflation, Turkey’s annual consumer price inflation rate was 175.55% in June, far higher than official claims. ENAG also said that prices in Turkey increased by 8.31% percent month-on-month in June.

Meanwhile, in the face of this inflation, the government announced that it will increase the salaries of active and retired civil servants by 41 percent. Accordingly, the lowest salary of an active civil salary will reach about 9,000 liras.
 

Camden

Member
Watch The Lira Now
Interesting article a Financial times ( paywalled so this is the Turkish translation ) interview with the CHP Istanbul Mayor ...


 

enoch

Member
Watch The Lira Now
Civil servants got a new pay deal, 7.5% retired civil servant's end up with just over 6000 tl, I think the minimum wage for them has gone up to 8,450 tl.
 

Rua

Member
Watch The Lira Now
I wonder if all these civil servants will vote next year. KRT television station had a report yesterday that Artee will lose next year.Also at the weekend there was a report that the majority of young people will vote against the government.More young people will vote in the next election.i wonder how the govt will woo them.
Seder Peker has also started talking again.
 

enoch

Member
Watch The Lira Now
The latest pole is out they where asked about the new pay deal, 54%said AKP are only after votes but the increase is not enough he will not get my vote.
 

Camden

Member
Watch The Lira Now
I wonder if all these civil servants will vote next year. KRT television station had a report yesterday that Artee will lose next year.Also at the weekend there was a report that the majority of young people will vote against the government.More young people will vote in the next election.i wonder how the govt will woo them.
Seder Peker has also started talking again.

Sorry Rua I wish ..but I don't think the Turks whatever the vote is, or seen, "for" , or "against" that there will be a change or passing of power ... nor a change in the Presidency position ....

There is no "regulatory body" that is not controlled by the present ruling party that would/could uphold a true Democratic vote if it meant passing rule on to any opposition Party .
 
  • Like
Reactions: Rua

Tenpin

The Yorkshireman
Watch The Lira Now

Turkey’s Inflation Spirals Toward Peak That Barclays Sees at 88%​



Extract:
One of the world’s worst inflation crises closed in further on another grim milestone in Turkey, and government efforts to help the population cope with the fallout only threaten to make it worse.

Price growth has been in the double digits almost without interruption since the start of 2017, but it exploded this year near a quarter-century high on the back of soaring energy and other commodity costs.

“Assuming no major FX depreciation in the rest of the year,” annual inflation may peak in October at about 88% on an annual basis and end the year at 67%, Barclays Plc economist Ercan Erguzel said in a report.

507x-1.jpg


A combination of self-inflicted damage and price pressures from abroad have stirred up a storm in Turkey that the International Monetary Fund estimates will result in the world’s highest inflation this year after Venezuela, Sudan and Zimbabwe.
 

Rua

Member
Watch The Lira Now
Dollar TL heading towards 17.It's at 16.98 now.
Hubby and I were saying that perhaps there is a longer holiday to give the Lira and stock exchange a break.
 
Watch The Lira Now

Millions of Turks planning to spend Eid holiday at home in face of soaring prices​

The number of people who will hit the road for the upcoming Eid al-Adha holiday will see a considerable decline this year in the face of soaring transportation costs and economic crisis, intercity bus company representatives have said.​

Millions of Turks are planning to spend the upcoming Eid al-Adha holiday at home, unable to visit their hometowns or go on holiday in the face of soaring transportation costs and general living expenses.

A family consisting of four members need to allocate a budget between 2,000 – 10,000 liras just for intercity travel transportation if they want to visit another city. Such high costs are pushing citizens to stay at home, leaving intercity bus terminals empty.

The Islamic holiday of Eid al-Adha will be celebrated in Turkey between July 9-12. The government announced last week that the holiday will be linked with the July 15 Democracy and National Unity Day and last until July 17 for civil servants.

In the previous years, Istanbul's mammoth main bus terminal “Esenler Otogarı” used to welcome 80,000 passengers on average during the holiday seasons or summer months. But now, silence is prevailing at the famous terminal.

The head of the Turkish Bus Federation (TOFED), Birol Özcan, said that ticket sales have dropped considerably compared to the previous years. “The ticket sales are very low compared to the previous Eid al-Adha holidays...The terminal is no more full. About 2,500 buses used to take off from the Istanbul Terminal [Esenler] a day [during the holiday season], but now if it is 600, we will thank lucky stars,” Özcan was quoted as saying by daily Birgün.

“The tickets are really expensive, but the [bus] sector does not want to raise the prices, rather wants to decrease passengers' costs. Since people do not have the financial means, buses are going empty,” he said.
 

Latest Posts

Top Bottom