Sunday, August 28, 2022
Central Bank August”economic trend statistics and real sector confidence index ‘ he explained. This index is a survey that shows the results of the survey conducted with real sector managers.
In the last three months, compared to the same period of the previous year;
* Decreased production volume,
*Total order quantity has decreased,
*There is a decrease in the amount of export orders,
*The average unit cost has increased; says.
Similarly, the respondents expect that production and orders will decrease and unit costs will increase in the next three months.
On the other hand, the manufacturing industry capacity utilization rate, which was 77.1 percent in August 2021, decreased to 76.7 in the same month this year.
Secretary of the Treasury; “We will support the finance and capital market.” says. De facto, the government supports the financial sector.
Funds from the Central Bank are provided to banks at 13 percent. He says you can sell this money as a commercial loan with a maximum interest of 30 percent. He says to give to the consumer with the interest you want.
According to Central Bank data;
*Average consumer loan interest is 34.25 percent. In other words, banks make 263 percent profit from these loans by selling the funds they receive from the MB;
*Average consumer loan interest is 31.6 percent. In other words, banks make a profit of 243 percent from these loans.
*Average commercial loan interest is 25.87 percent. Banks also make a profit of 199 percent from these loans.
In this case, the financial sector creates unfair competition for the real sector.
Another reason for the crisis in Turkey is the deterioration of the balance between the sector.
In development policies, it is necessary to establish a balance between sectors in the economy. For example, if the stock market swells excessively, it moves away from representing the real sector. crises in the world -including the 2009 crisis- Most of them came out because of this.
Capital Market and Stock Exchange in Turkey is an area of speculation. It is far from representing the real sector.
Particularly, in developing countries, financial institutions and capital markets collect funds from those with small savings, surplus funds, and help businesses finance investment and operation. However, if the stock market becomes a speculation area, the investor also becomes a speculator.
Moreover; With the abolition of planning, the support to the manufacturing industry decreased. Some supports were announced, but no investments were made, especially in the east and southeast.
The industrial sector, which could not cope with neglect and unfair competition, entered a period of deindustrialization.
In Turkey, it is necessary to make a separate planning for the industrial sector and to increase the incentives. Because, in the development process of a country, industrialization contributes to the accumulation of fixed capital. (real capital stock)increases sustainable growth and exports.
.