WALL -Decision newspaper writer Ahmet Taşgetiren carried Erdogan’s criticism of Ali Babacan in his commentary on the economy at the ITO meeting. Taşgetiren, regarding Erdoğan’s words, “Inflation has reached levels that we never desired. We will first reduce it to reasonable levels as of February. Then we are determined to reduce it to single digits as it should be.” It appears once again at the meeting,” he said.
Taşgetiren said, “The period of Babacan is remembered as “Success” in terms of both low inflation rate and per capita national income. The next period is a period that has come today, where per capita income has decreased, inflation has climbed and it has been seen that the government will not achieve any of its targets for 2023. It reflects the landscape.” used the phrases.
Ahmet Taşgetiren’s headline ‘Erdoğan’s soft belly’ is as follows:
“The expression ‘soft belly’ expresses a weakness. It is clear that he would not accept such a definition.
The phrase “I am an economist”, which he needs to repeat even in America, at least has the will to reject the objections that he thinks exist in the world on this subject, by looking into the eyes of the world. Especially there, the tirade of “The shelves are empty in America, the shelves are empty in Germany, and we have plenty of abundance”, which he sang in response to the question of the American journalist, includes the claim that “We sang them even in America” aimed at removing the suspicions inside.
This internal resistance in Erdoğan at the weekend was also revealed at the 140th Anniversary Special Awards Ceremony of the Istanbul Chamber of Commerce. In his speech there, he talked about the inflation, which was around 80 percent, even in TUIK measurements, with the expression “rising to levels we never wanted”. “Starting in February, we will first reduce it to reasonable levels,” he said. “Then we are determined to reduce it to single digits as it should be.” Undoubtedly, the part of these words that we do not desire is important, it means that there is an uncontrollable area in the economy…
Another issue that President Erdogan needs to prove to the members of the ITO should be his approach in the field of “Interests”, where he also makes interesting breakthroughs. The problem is this: The whole world is going to increase interest rates to fight inflation; America, England, Germany, France… Even Russia meets the Western embargo that came on February 28 by raising the policy rate, which was 9.5 percent in those days, to 20 percent with a “shock increase”.
In his statements, which Erdoğan started with “If you pay attention,” he says that “…the approach of keeping inflation under control by increasing interest rates is not mentioned by anyone anymore” and even “even if it is brought, it is not taken seriously”. According to Erdogan, “Even great leaders have begun to admit that lowering the interest rate is beneficial, not raising it anymore. First of all, Russia. While Mr. Putin himself had defended high interest rates in the past, now he has started to lower the interest rate and lowered it to 8.6.” It is up to us to evaluate whether Putin becomes the “Great Leader” when he raises shock interest rates, or whether he lowers interest rates.
Mr. President’s “Great leader” criteria should also be interesting. In America, “Did it upset you not to meet with Biden?” He replied, “If he is Biden, I am Erdogan”. That’s how he made up for not being able to see Biden. In America, of course, not Biden, the FED decides whether to increase or decrease interest rates. In this case, all Western leaders become “Little leaders”.
It is revealed once again at the ITO meeting that Mr. President also has an opinion on the economy.
As you know, the AK Party has two periods in the economy: the period with Ali Babacan and the next period. Babacan’s period is remembered as “Success” in terms of both the low inflation rate and the per capita national income. The next period reflects a landscape that has come to this day, in which the per capita income has fallen, inflation has climbed, and that none of the government’s targets for 2023 will be met.
What is the diffrence?
With Ali Babacan and without Ali Babacan.
Ali Babacan, on the other hand, is engaged in politics in the opposition today and says, “As in the past, I will get the economy out of the depression today.” In a sense, “What have you done to the economy that I left healthy!” he asks.
Obviously, “Babacan ukdesi” is hidden in the world of the President. From time to time, he also asked about Ahmet Davutoğlu, “Who signed?” your question. In the minds of the ITO world, I wonder “If you had a father….” Is there a question like Mr. President is speaking by considering such a possibility. First, he says, “We will turn inflation into a memory in the past.” Then, “Have we done this in the past? We did. We lowered the rate to 4.6. Inflation came to 6.2. We have achieved this,” he continues. That’s where the “Babacan ukdesi” comes into play. “Not anyone.” Says. Babacan means “Someone”. The language of anger dominates, “Who are you? Who are you?” He continues: “There are not those who try to take credit for this result, there are. Who are you? Who signed? Who are you? This is the Prime Minister who removed the six zeros from the Turkish lira. Who are you? He came out and said, ‘I did it. I was the economy minister.’ So who is in charge of this? What can you do without the Prime Minister’s consent to this?”
I do not know what the ITO guests thought of these words. But Ali Babacan has something to say. He says:
“Mr. Erdogan said to me, ‘What did you do? “I signed it,” he says. I’m calling out to him. Aren’t you the one who ruled this country with a single signature for 4 years? You are fully authorized. You can do anything you can think of with a single signature. Since the miracle is in the signature, sign like this and reduce this inflation. Make a dashing sign and end the cost of living.”
This call has been made a lot to Mr. Erdoğan: If the problem is interest, reset it with a signature, let inflation fall…
He has not yet seen this challenge, Mr. President. He did not appear before the public in a face-to-face program with Babacan. Perhaps the real test will be face-to-face interview, not distant words. Let’s see if our democracy will see those days?” (FULL ARTICLE)