Deprem Kimin Umurunda?
Mustafa Sönmez10.03.2010, ÇarşambaHer deprem, birkaç gün için de olsa, başımıza bu kadar sık gelen afete…
The Turkish government has enacted drastic tax measures to curb car imports as it scrambles to ease a foreign exchange crunch. The move aims to encourage the sale of locally produced vehicles, but its impact remains questionable in a country where demand for imported cars has been traditionally high.
An ongoing flight of foreign capital, coupled with a sharp decline in hard currency revenues from exports and tourism during the coronavirus pandemic, have brought Turkey’s current account deficit to some $30 billion, with Ankara losing control of foreign exchange prices despite costly efforts to keep them in check. The price of the dollar shot up more than 7% in a mere month, hitting the region of 7.35 liras in mid-August.
The demand for foreign exchange has been driven mainly by importers, entities indebted in hard currency and savers who see foreign exchange as a safe haven to preserve the value of their money.