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2020-04-01 The Grand Turk
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Virus threatens fragile Turkish economy
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It’s hard to be a regional hegemon and future sultinate when you’re broke. More details at the link, but this bit is quite enough to trigger schadenfreude. [Rudaw] The Ottoman Turkish economy was healing after a recession when the new coronavirus (aka COVID19 or Chinese Plague)
...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men...
struck, leaving Ankara scrambling to contain the damage with stimulus measures worth billions and facing demands to do much more.
The corpse count in The Sick Man of Europe Turkey
...the occupiers of Greek Asia Minor...
is 168 with 10,827 recorded cases of the virus but the fear is that the situation could get much worse.
President His Enormity, Sultan Recep Tayyip Erdogan the First
 ...Turkey's version of Mohammed Morsi but they voted him back in so they deserve him. It's a sin, a shame, and a felony to insult the president of Turkey. In Anatolia did Recep Bey a stately Presidential Palace decree, that has 1100 rooms. That's 968 more than in the White House, 400 more than in Versailles, and 325 more than Buckingham Palace, so you know who's really more important...
announced earlier this month a $15 billion package to support the economy, with tax cuts for businesses and measures to help low-income households.
While business leaders and analysts agreed Ankara’s measures would benefit companies, experts warned of higher unemployment and lower growth.
They also pointed to the possible devastating impact on tourism which employs hundreds of thousands of people.
The concern is that before the outbreak, the economy was growing only tentatively after a currency crisis in 2018.
Moody’s ratings agency said among the G20, it expected Turkey "to be hit the hardest, with a cumulative contraction in second- and third-quarter GDP of about 7.0 percent" in 2020.
But as recently as March 19, Finance Minister Berat Albayrak
The Imperial Son-in-Law (Bow the Knee!)...
said he did "not see any risks to the economy for now" and was still aiming to meet the ambitious target of five percent growth for 2020.
"The shock will likely take a large toll on tourism-related sectors through the summer," Moody’s added.
Last year, tourism income rose 17 percent to $34.5 billion while the number of visitors increased nearly 14 percent to about 52 million. 
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Posted by trailing wife 2020-04-01 00:11||
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File under: Sublime Porte
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Posted by Skidmark 2020-04-01 00:55||
2020-04-01 00:55||
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Posted by lord garth 2020-04-01 11:23||
2020-04-01 11:23||
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