The value of currencies of leading economies worldwide against the U.S. dollar are shaped according to an economic-political frame in the current global environment. On one side, the monetary policy preferences and tactics of the central bank, which is responsible for protecting the value of the country's currency, stand out, as well as the state of the international reserves of the country's central bank. On another side, there is the macroeconomic state of the country in question, meaning its overall performance in production, exports, growth and employment. We also have conflicts and tension regarding the trade war with the U.S. and/or global and regional politics that the country in question is experiencing. From the euro, the common currency of the European Union, to the British sterling, from the Chinese yuan to the Russian ruble, from the Turkish lira to the Iranian rial, everyone is feeling the pressure.
We are carefully following the effects of the direct embargo on the Russian and Iranian fronts, and on the Venezuelan front, the vicious operation to overthrow the government. Regarding the Turkish lira, the most important thing that differentiates the situation compared to the currencies of many other countries is that global market speculators are trying to manipulate foreign exchange rates to force our government and economic management into a corner. Therefore, we are facing an extremely manipulative attack on the exchange rates, which are allegedly determined by the monetary policies of the Central Bank of the Republic of Turkey (CBRT), Turkey's macroeconomic indicators and our dispute with the U.S. This leads to the following results: steps that will be taken with determination by the CBRT to protect the value of the Turkish lira; the acceleration of normalization in inflation and rebalancing in growth; sensible steps and solutions, which look out for Turkey's interests and will decrease the tension on issues in U.S. relations such as the S-400s, Syria and the Eastern Mediterranean. Moreover, counterattacks that will eliminate or neutralize the vicious operations on the global image of Turkey, and projects and strategies that will strengthen Turkey's global image will also figure in. Until July, we must keep all these trivets effectively in place. As the record-breaking export and tourism revenues strengthen, normalization in exchange rates will also accelerate. These factors will work to demonstrate the progress focused on "proactive" lira management.
Production as a cure-all
Recently, reports published by international organizations and world-renowned universities have pointed out that global climate change has positively affected Turkey's production capabilities. However, it is not possible to say the same for many African countries or India. Turkey, by analyzing the effects of global climate change, starting with agricultural production, has given weight to policies that will further increase the value of its domestic resources, and protect and develop all the necessary resources for production. In addition to the protection and development of our water resources and arable land, strategies to meet the raw materials and intermediate goods demand of the manufacturing industry with domestic resources are positively reflected in the productivity of our services sector.
The primary goal of international media headlines designed to spread propaganda about the Supreme Election Council's (YSK) decision to renew the elections in Istanbul - while not detailing the reasons behind the decision - is to hurt Turkey's productivity. They want to sabotage the added value-oriented reflected on the Real Sector
Confidence Index. While Turkey continues to break records in exports, the tourism sector is preparing for the highest records ever and the manufacturing sector continues to recover. In the end, they think they can achieve political results if they disrupt the psychology of the real sector and cause serious damage to the productivity of our economy. Clearly, Turkey is facing a serious attack on its productivity. Production is the best cure to fight basic macroeconomic problems such as inflation, the account deficit and unemployment. Protection and development of productivity in our main sectors of agriculture, industry and services and increasingly promoting domestic resources will minimize how much Turkey is affected by international economic and political crises. The increase in the weight of domestic sources in energy will improve Turkey's ability to govern energy prices by emphasizing our production-related skills, every hour, every day. Let's lead the agenda with our production capabilities and make our manufacturers proud.
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