Pro-government columnist makes a move that won't please the AKP: Describes the difficulties by saying 'There is no rosy picture'

The difficulties experienced in the economy have also begun to be voiced by names close to the government. In his column, Türkiye Gazetesi writer Cem Küçük stated that it is not possible to paint a "rosy picture" of the economy.

"THERE IS ANOTHER SIDE TO THE COIN"

Küçük noted that there has been an improvement in Central Bank reserves and a partial decline in inflation, but emphasized that this alone is not enough. Saying "There is another side to the coin," Küçük conveyed that the markets are in serious distress.

MAJOR FIRMS REPORTED LOSSES

Reminding that Turkey's largest companies reported losses in the first half of 2024, Küçük argued that the biggest reason for this is interest rates. However, he did not make any assessment regarding the economic policies that led to high interest rates.

"MARKETS ARE BLEEDING"

In his column, Küçük shared that a breakfast shop owner he visited over the weekend told him that business has been deteriorating for the last 6-7 months.

Drawing attention to the losses reported by Turkey's largest firms, Küçük noted the following:

"Turkey's largest firms reported losses in the last six months. For example, Arçelik reported a loss of 4 billion, Kalyon Solar Technologies 1 billion 268 million, Doğanlar Furniture 1 billion 212 million, Vestel 12 billion, and Carrefour Sabancı 3 billion 233 million TL in the last six-month period..."

This is the situation of Turkey's largest industrial establishments. So why are they losing money? First, expenses are expensive, and labor costs are very high. The exchange rate is not rising. This is good for the citizen, but bad for exporters. Most importantly, money is expensive, meaning interest rates are at their peak. Borrowing at 43 percent means giving away most of your profit...

Another reason is that there are no sales. Since there is a general problem in the world, exports are weak..."

"MONEY MUST BECOME CHEAPER"

Stating that the situation of private sector employees is also very bad, Küçük said, "There are those in the country whose general situation is good, but in this period, industrialists, producers, business people, and tradesmen are struggling to make ends meet..." and drew attention to the increase in enforcement files.

Saying "For this situation to end, money must become cheaper," Küçük pointed to high interest rates as the cause of the current picture. However, he did not explain why interest rates are high. If interest rates do not fall, the markets will get worse. Tax and labor costs need to come to a reasonable level.

"IF THERE WERE A ROSY PICTURE, I WOULD PAINT IT TOO"

Saying "It would be beneficial for the government to look at the streets. It is essential to talk to small tradesmen..." Küçük finally noted the following:

"People like me protect their reputation by conveying what they see on the street. One must listen to what the people say. While heading into 2024, I drew a lot of attention to retirees. I was proven right. If I don't say what I see, I would be doing a disservice to the people. Now, I am conveying whatever I see..."

Finally, those still in the worst situation are the retirees. We must not forget them either...

May God help us all. If there were a rosy picture, I would paint it too, but the situation is not like that..."