Those who came to referendum in Turkey worried about economy

Turkish authorities explained the need for constitutional amendments, providing for a transition from to a presidential system, by economic benefits - a strong and stable country will receive investment flows, foreign tourists will return. Forbes writes that Turkey's economy is going through a tough time. Last year the Turkish lira depreciated against the US dollar by 18%. The Turkish lira became the second worst-performing currency of 2016 after the Argentine peso. President Recep Tayyip Erdogan was even forced to launch a campaign to save the lira, urging citizens to change their dollars and euros. Over the past year, foreign investment has declined significantly, there has been a decline in tourism of more than 32%.

Deputy Dean of the Faculty of International Journalism, associate professor of the World Economics Department at the Moscow State Institute of International Relations, Nigar Masumova, believes that the referendum divided the Turkish society into two parts - those supporting Erdogan's policy and those opposing it. "And, of course, the economic situation plays its role here, as in principle young people support their leader in connection with the latest changes. The Justice and Development Party (AKP) came to power in 2004. After this period, dramatic economic changes have started, Turkey becomes a potential candidate for granting the EU membership, starts to reform its economic policy in accordance with European norms and standards. This negotiation process positively affects the economy, most of the branches of economic activity are being modernized. It's all going in accordance with the norms and rules of the European Union."

According to Masumova, Turkey has become the first economy in the region, the eighteenth in the world: "The analysis of macroeconomic indicators shows that this potential will only grow in Turkey. Its GDP exceeds 700 billion dollars. It has doubled in relation to 2004. Other macroeconomic indicators are growing as well, such as GDP per capita, the growth rate of the economy. Inflation is declining, although it was traditionally high in Turkey, there were periods when inflation reached 110%. The rate of inflation growth averages about 7-8%. Industry is the base of the country's economy, and the authorities do everything possible to channel investments into this sphere. There is a special law on attracting foreign investments, they create special economic zones, technoparks, industrial zones, free trade zones. This is one of many tools to stimulate investment in the country."

The expert believes that the AKP has achieved great success in the energy policy: "Electricity supply routes are diversified, many energy pipelines, oil pipelines and gas pipelines pass through Turkey. Turkey is currently developing projects. The Turkish Stream is in the design stage and is supported by the leaders of both countries - Russia and Turkey. Turkey is also diversifying its sources of electricity."

As for agriculture, the share of agriculture is decreasing due to the economic growth, but at the same time a large proportion of the population employed in this sector remains. "This is a big problem for the country's economy, which showed the results of the referendum. Many of those provinces which experience problems in rural areas, this is mainly Eastern Anatolia, voted against. This shows that the economic situation in these regions is not very good."

4415 views

Read on the subject


More Turkey News

Turkey and Norway to start open skies flights over Russia

Turkey and Norway to start open skies flights over Russia

Norwegian and Turkish inspectors will conduct an aerial surveillance flight over the territory of Russia under the Treaty on Open Skies between May 29 and June 2, the head of Russia's Nuclear Risk Reduction Center Sergei …

Germany to decide about troop withdrawal from Incirlik by mid-June - media

Germany to decide about troop withdrawal from Incirlik by mid-June - media

Germany will decide within two weeks whether to withdraw troops deployed at Turkey's Incirlik air force base, a German Foreign Ministry official said on Sunday. Roughly 250 German troops are based at Incirlik to help in the fight …

French photojournalist detained in Turkey ends hunger strike

French photojournalist detained in Turkey ends hunger strike

A French photojournalist Mathias Depardon held in Turkey for nearly three weeks has ended a week-long hunger strike, press freedom body Reporters Without Borders [RSF] said. “Mathias Depardon is being treated …

Erdogan removes ‘arena’ from all stadium names in Turkey

Erdogan removes ‘arena’ from all stadium names in Turkey

The Turkish Football Federation (TFF) announced that the word 'arena' had been removed from the names of all stadiums in the country, Anadolu Agency reported. The move comes after President Recep Tayyip Erdoğan …

Serious problems in Turkey’s image abroad

Serious problems in Turkey’s image abroad

None of Erdogan's talks occurred in a comfortable atmosphere

5.1 quake hits western Turkey#039s Manisa province, no casualties or damage

5.1 quake hits western Turkey's Manisa province, no casualties or damage

An earthquake of 5.1 magnitudes hit Turkey's Manisa province east of the Aegean coastal city of Izmir on Saturday, broadcaster CNN Turk said, adding that initial reports showed no casualties or damage, Daily Sabah reports. The …

Turkey increases tomato exports

Turkey increases tomato exports

According to the Institute of Statistics of Turkey, the export of Turkish tomatoes is  growing steadily, despite the Russian sanctions. The tomato sales abroad  amounted to $ 123 million in the first three months of 2017, which means an …

EU gives 12-month calendar to Turkey

EU gives 12-month calendar to Turkey

Turkish President Recep Tayyip Erdoğan said the European Union has drawn up a 12-month calendar to push Turkey’s EU membership process ahead, Hurriyet reported on Saturday, Turkish Minute reports. “They [the EU] have done …

Missiles of the Middle East

Missiles of the Middle East

Stability in the Middle East is not only threatened by missiles, but also short-range rockets launched by non-state actors

Erdogan and Putin agree to deepen strategic partnership

Erdogan and Putin agree to deepen strategic partnership

Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin discussed a mutual desire for deeper strategic partnership between Russia and Turkey in a phone call on Saturday, Yeni Şafak …

more Turkey News