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The world is going through a very serious test with the new type of coronavirus epidemic (Covid-19). Although it is a health crisis, we are facing a situation that profoundly shakes all areas of our lives due to its consequences. The impacts of the epidemic are still being experienced in many areas, from the labor market to commerce, from personal relationships to public safety, from the economy to tourism. International organizations had to revise their forecasts for global growth downwards. Economic data and expectations showed that even large economies like the United States, Germany, Japan and the United Kingdom were shaken by the effect of the epidemic and suffered very serious economic losses. In the economy of the second quarter of 2020, Japan 10 percent, Germany 11.7 percent, France 19 percent, England 21.7 percent and Spain 22.1 percent.
AZ WAS AFFECTED TURKEY
In the first quarter, with growth of 4.4 percent in Turkey, it separated from the countries with a contraction rate of 9.9 percent in the second quarter. The measures implemented by the government and the support policies implemented made a great contribution to this panorama. Turkey detached from reality could not calculate the cost to society other than impulsive decisions, the carefree way it handled the process. With the Economic Stability Shield package with a size of 300 billion TL; citizens, merchants and companies were protected against the negative effects of the epidemic. In the most critical phase of the epidemic, neither the collapse of the health system, nor the disruption of public order or the economy was allowed to come to a complete halt. At a time when investments in the world came to a standstill, investment from both the public and private sectors accelerated and the economy got back on track with steps of normalization. Thus, Turkey scored in a ‘V’ rebound.
POSITIVE FIGURES
In this context;
l The real sector confidence index increased from 75.2 in the second quarter of the year to 105.2 in August.
l The economic confidence index increased from 62.2 in the second quarter of the year to 85.9 in August.
l The purchasing managers’ index increased from 42.7 in the second quarter of the year to 54.3 in August. This index, which has been above the threshold value of 50 for the last 3 months, reached the highest level since February 2011 in July.
l The capacity utilization rate for manufacturing increased from 63.5 in the second quarter to 73 in August.
The seasonally adjusted sector confidence indices, which rose on May 1, continued to rise in August. In August, compared to the second quarter of the year, the service sector confidence index, which is one of the sub-elements, increased by 38.4 percent, the retail sector confidence index by 18.3 percent. percent and the confidence index of the construction sector 40.7 percent.
l Auto and home sales broke a record, thanks to recently provided access to financing and favorable credit opportunities. A huge jump of 83.3 percent was achieved in automobile production in July compared to the second quarter of the year. Auto sales increased 64.2 percent in the July-August period compared to the second quarter of the year.
s Home sales in Turkey in July, an increase of 229,357 was 124.3 percent compared to the same month last year and reached a record high.
Exports in the June-August period; It reached the level of 40.9 billion dollars with an increase of 26.9 percent compared to the March-May period. Thus, it even exceeded the same month last year. Excluding gold, the ratio of exports to imports was 82.9 percent in August.
occurred.
l There are visible improvements in the new orders and jobs received by our companies. New orders reached their highest value in the last 2.5 years.
l It is a great success that the number of tourists arriving in our country reaches 10 million in the first 8 months despite the pandemic.
l Despite accelerating loan growth; The annualized return on equity of the banking sector as of July 2020 was 11.8 percent. The capital adequacy ratio was 19.2 percent, well above the minimum level.
THE ECONOMY RISES WITH SUPER SUPPORT
Finance and Finance Minister Berat Albayrak said: “In light of the data, we expect a ‘V’ shaped recovery in the second half of the year. We will witness that this is beginning to be felt by all stakeholders. And citizens “. With the ‘Stability Shield’, approximately 150 billion TL financing was provided to 90 thousand companies. More than 33 billion TL of support loans were granted to 5.6 million citizens. More than 1 million merchants were reached. 5 million jobs were protected with ‘Short work’ and ‘Support for vacations without pay’. Istanbul Chamber of Commerce President Şekib Avdagiç said: “Credit expansion, VAT discounts and short-term labor practices played an important role in the rapid recovery of the economy, starting from the end of the second These were the ‘triple masks’ that protect the economy, he spoke.
HE IS. FARUK BİNGÖL
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