Economist Selçuk Geçer gives a date: The dollar will reach 60 liras

Following the conflicts between Hamas and Israel, the tension in the Middle East has reflected on the global economy. The dollar exchange rate, which has been breaking new records, most recently rose to the 28.14 TL level. 

Following these developments, economist Selçuk Geçer made striking statements regarding two dates when the economic situation will enter a serious crisis. 

Warning that Turkey will enter a difficult period in the foreign exchange market and stating that the dollar exchange rate could exceed 45 liras, Geçer reminded that the Fed had made its final interest rate hike decision for 2023, emphasizing that the Fed's continued interest rate hikes increase the value of the dollar. He stated that this situation creates a negative impact for developing countries. 

According to Selçuk Geçer, the European Central Bank's move to raise interest rates could also lead to the Euro gaining value against the dollar.

"THE REAL VALUE OF THE DOLLAR IS 45 LIRAS"

Stating that the real value of the dollar is currently 45 Turkish liras, Selçuk Geçer said, however, that it would remain in the 35 TL band until the local elections.

The economist stated that the dollar exchange rate would rise rapidly after the local elections, claiming that it could exceed the 45-lira threshold. He also emphasized that the dollar could exceed 60 TL in 2024 along with inflation.

"BY JUNE 2024, THE DOLLAR WILL EXCEED 60 LIRAS"

Selçuk Geçer's statements are as follows:

"What are we saying? Currently, the real value of the dollar is at the 45-lira threshold. When you add the inflation of 2024 to this, by June 2024, the real value of the dollar will exceed 60 liras, and you will see, they will have to completely remove the pressure on this exchange rate.

In other words, we will watch the foreign exchange rate go on a terrible rise with the end of the first half of 2024. This will be done, and it needs to be done. You cannot find a permanent solution in any way without doing this.

HE ANNOUNCED THE DATE WHEN GASOLINE WILL BE 80 LIRAS

We expect budget expenditures to be 11.9 trillion liras in 2024. If we round it up, we have 12 trillion liras in expenditures. They still cannot cut budget expenditures. Why? Because you have a terrible interest expense. It is not earthquake expenses or anything, it is a terrible interest expense. The Revaluation Rate will increase again. All fees, services related to the public, and telephone fees will increase. Prices set by the state will increase. We might be buying the gasoline we buy for 40 liras now for 80 liras per liter next year."