[ad_1]
Turkey will carry out the New Economic Program (YEP) 2023, according to official forecasts, Turkey’s economy will contract further, per capita income will decline further, revealing that unemployment will rise further. Turkey’s economy will shrink this year by $ 110 billion, yes, our per capita income will decrease by $ 1,357. Unemployment will remain in double digits until the end of 2023.
THE BROKEN FORECASTS
It was also promised in the program that there will be no tax amnesty until the end of 2023. Finance and Finance Minister Berat Albayrak announced at a meeting that was also attended by Turkey’s third yep business. Albayrak said the name of the new approach to economics would be the “new normal.” All of the targets announced to the public in the second NEP announced last year collapsed with the third YEP announced yesterday. Yes, while Turkey’s previous forecast of growing 5 percent this year was downgraded to the forecast of 0.3 percent growth in the new ones. However, it is claimed that this prediction is very difficult to achieve.
In addition to growth, estimates of the macroeconomy, especially national income, unemployment, inflation, the borrowing requirement, foreign trade, could not be achieved, and the error rate increased to extraordinary dimensions with the effect of the epidemic. In the previous program, it was estimated that the national income this year would increase to 812 billion dollars and the income per capita to 9,738 dollars. However, in the newly announced program, it was revealed that the national income will drop to $ 702 billion by decreasing $ 110 billion less than estimated, and per capita income will drop by $ 357 to $ 8,381.
According to the program, the size of Turkey’s economy in 2023 will be 875 billion dollars. However, even this level shows that Turkey’s economy regressed 11 years. Because the national income in 2012 was 877 billion dollars.
NO HOPE FOR UNEMPLOYMENT
There was no hope for the millions of unemployed waiting for a job from the program. On the contrary, it was officially announced that unemployment would rise more than expected. In the recently announced program, it was declared that unemployment will rise to 13.8 percent in 2021, and will remain at twice as many households at 10.9 percent even by the end of 2023.
ESTIMATED DOLLAR
There is no official estimate of the dollar exchange rate in YEP. However, calculations based on macro estimates in the program revealed that the estimated average dollar rate in YEP was TL 6.91 for 2020, TL 7.68 for 2021, TL 7.88 for 2022 and TL 8.02 TL by 2023. In the second YEP, the ratio of public sector borrowing requirements to national income is estimated to be 3 percent by 2020 and will decrease to 2.8 percent in 2021, while the recently announced NEP will increase by 3.1 points to 6.1 percent in 2020 and in 2021. It was estimated that it will observe 4.5 percent.
[ad_2]
